Instructions
INSTRUCTIONS
PURPOSE
The Energy Efficiency Benefits Calculator (Calculator) is a tool that demonstrates the benefits
to customers, utilities, and society of implementing energy efficiency programs. The Calculator
was developed for the Leadership Group of the National Action Plan for Energy Efficiency and
is one of the resources available to aid users in promoting the adoption of energy efficiency
programs. The Calculator is designed to support the new national commitment for energy
efficiency by demonstrating the energy efficiency business case from multiple perspectives
using transparent input assumptions and easily verifiable calculation methodology. Results
from the Calculator can be used, in conjunction with other program planning materials, to:
- Make the business case for an aggressive new energy efficiency commitment.
- Gain support for energy efficiency across the diverse set of stakeholders making decisions
about energy supply, including utilities, regulators, customers, businesses, and others.
- Show the range of benefits and impact on different approaches to program design using
what-if type analysis.
INTRODUCTION
The Calculator is a powerful resource that utilities, regulators, and partner organizations can use
to demonstrate the economic and environmental benefits accruing to all parties through
adoption of energy efficiency measures. The tool can evaluate the business case for energy
efficiency universally across utility types and provides robust results encompassing consumer,
utility, and societal benefits. It can be calibrated to numerous applications: electricity and
natural gas; public or private utilities (investor-owned utilities, municipal utilities and
cooperatives); vertically integrated or restructured markets; various utility financial structures;
different rate-setting approaches; with/without decoupling in base case and EE case; and
with/without shareholder incentives. It is straightforward to use and produces compelling
results. Because the Calculator was designed to accommodate a wide variety of utility types,
while at the same time requiring easily obtainable input data, the results are geared to education
and outreach purposes. The Calculator is not designed to be used for applications requiring
detailed data for specific applications such as rate-setting, comparing different types of energy
efficiency policies, cost effectiveness testing, energy efficiency resource planning analysis, and
consumer behavior analysis.
INSTRUCTIONS FOR USE
The Calculator is designed for users with a basic understanding of Excel and a moderate
understanding of utility economics. Data should be entered in cells with yellow highlighting
and blue color.
The model consists of 14 tabs, including the Cover and Instructions.
* Data will be entered only on the Step1 and Step2 tabs.
* If you do not wish to adapt the model to a specific utility, you may select one of the cases on
the Interpretation tab. To run one of these cases, simply select the case from the drop-down
menu in column D. To save a case you have manually input, press the Save Scenario button.
* The Interpretation tab provides an explanation of Calculator results, based on active
assumptions.
* The other tabs in the model (Electric No EE, Electric EE, Electric EE No Decoupling, Gas
No EE, Gas EE, Gas EE No Decoupling, Energy Forecast, Emissions, and Scenarios) perform
calculations only and have been hidden.
On the Step1 tab, you will calibrate inputs to your utility (size, rate-base, rate levels, growth
forecast, costs).
On the Step2 tab, you will adjust energy efficiency costs and savings inputs, decoupling and
sensitivities, then examine charts depicting program impact.
The Interpretation tab is a summary of results and is intended to be utilized to communicate the
business case for cost-effective energy efficiency to stakeholders.
Instructions
Instructions
Rate Setting
For investor-owned utilities:
Enter trigger for determining rate case year: regular cycle (1) or earnings band (2).
Enter length of cycle if (1) is selected per above.
Enter next rate case year if (1) is selected per above.
Enter band on earnings (+/- ROE) if (2) is selected per above.
For public power or cooperative utilities:
Enter trigger for determining rate case year: debt service coverage ratio (1) or cash position (2)
If (1) is selected, enter pre-tax DSCR for triggering rate case and target DSCR for establishing rates.
If (2) is selected, enter cash position at the end of 2006 ($MM) and cash position triggering rate case ($MM).
Enter percent of annual revenue paid in lieu of tax.
Instructions
activated.
Customer Perspective Charts
Percent Change in Customer Bills Chart
Shows percent change in customer bills over time versus the no EE case.
Instructions
At first, customer bills increase because investments have been made in EE. Energy savings are assumed to
result in the years following initial investment, and as money saved on energy becomes greater than the cost of
the efficiency program, the chart area grows below the x-axis.
Comparison of Average Rate Chart
Shows average customer rates over time.
Customer rates increase over time due to inflation and increasing rate bases.
Rates equal total revenue (which is equal to the total customer revenue figure in the chart above) divided by total
energy sales.
Rates are higher in the with EE case because although total customer revenue decreases over time, total energy
sales also decrease due to EE measures. Because energy sales decrease at a higher rate than customer revenue,
rates are higher in the EE case.
Percent Difference in Average Rate Chart
Shows percent difference in average customer rates over time.
Calculated by subtracting the without EE rate from the with EE rate, then taking that result as a percent of the
without EE rate.
The percent difference increases over time, indicating rates are increasing more quickly in the with EE case.
Again, this is driven by the decrease in energy sales.
Key Equations
The decoupling mechanism assumed by the Calculator is a generic balancing account that adjusts
rates annually to account for reduced sales volumes, thereby maintaining revenue at target projections.
Differences in utility incentives that alternative decoupling mechanisms provide are discussed in the
Utility Ratemaking and Revenue Requirements Working Group paper, but are not modeled. The
decoupling mechanism does not protect the utility from variations in costs.
The shareholder incentive (relevant only in EE case) provides additional monetary incentive to the
utility to implement EE. The target incentive (% of EE budget) must be entered in conjunction with
activating the shareholder incentive. The model also allows the user to enter how much additional
energy efficiency might be expected because of the shareholder incentive - if set at zero the incentive
will not change the amount of energy efficiency.
EE Costs and Budget
The annual EE utility program expense is entered as a percent of 2006 utility revenue devoted to energy
efficiency program budget. It is treated as an annual expense recovered in rates, with no associated
profit component. For example, if annual utility revenue is $1MM and the program expense is 1
percent, then the utility EE budget is $10,000.
The costs of energy efficiency are entered using two assumptionsthe costs in $/MWh and/or
$/MMBtu for the utility and participant, and an assumption about the average life of the energy
efficiency investments. These inputs are then used to convert annual utility EE program budget ($) into
lifecycle MWh, or mcf savings, and savings per year over the life of the measure. For example, if the
utility EE budget is $10,000 and the administrator cost is $20/MWh then the total EE resulting from the
$10,000 invested is 500 MWh.
Total MWh/mcf savings is then converted to annual savings using the average life of efficiency
measures and the utility WACC. For example, if the average life of efficiency measures is 15 years and
the utility WACC is 8.5 percent, then the annual savings resulting from the $10,000 EE utility budget is
-PMT(.085, 15, 1)*10,000 = 1,204 MWh.
Key Equations
Load Forecast
Forecast sales growth rate (%) has a large impact on efficiency program results. For example, a highgrowth utility can see ROE decreased when decoupling is implemented, whereas a low-growth utility
will see ROE increase when decoupling is implemented. Note: the Calculator does not adjust the
amount of energy efficiency investment for changes in growth rate, because the efficiency investment is
based on the cost and budget assumptions explained previously.
Energy and Capacity Savings
The percent of energy savings on-peak (on peak MWh / total MWh or winter mcf/total mcf) applies to
EE savings of purchased/produced energy.
The ratio of peak MW savings to average MW savings is the inverse of the coincident peak load factor
of the energy efficiency program and must be >=100%. This input converts the average annual capacity
saved to capacity savings during the coincident peak load hour so that peak capacity savings can be
captured. This input is only applicable in the context of an electric utility.
For example, 200 percent means that 2 MW are saved during the coincident peak load hour, for energy
savings of 1 average MW or 8,760 MWh of energy efficiency. Average MW = Annual MWh savings /
8,760 hrs per year.
Emissions Inputs
Emissions savings estimates are provided for natural gas and coal generation technologies per MWh of
saved electricity or per MMBtu of saved natural gas. They are applied to quantities of energy saved,
resulting in emissions savings in physical units. In addition, the model allows the user to input costs per
unit emissions saved for monetizing emissions savings (which is optional).
Utility Type
1
TRUE
TRUE
2007
Load Forecast
Electric
Investor-owned
Electric and Natural Gas Utility
Natural Gas
956,000 Peak Load (MW) - Year0
46% Annual Load Factor - Year 0
Rates Inputs
Electric
Natural Gas
Energy Cost Forecasts (Distribution utility = market purchases, Vertical utility = production cost and market purchases)
Electric Average Costs
Natural Gas Average Costs
$61.06 Average Cost of Purchased Power or Average Production Cost ($/MWh)
$4.05 Average Cost of Purchased Fuel or Average Production Cost ($/MMBtu)
6% Average Marginal Losses (for Energy Savings)
5% Losses and Unaccounted For
$- Generation Capacity Cost if purchased ($/kW-yr)
2.3% Cost Escalation of Average Energy and Capacity Cost
Electric Marginal Costs
TRUE Use Market Price for Marginal Cost
NP15
Emissions Inputs
Marginal Electric Generation Technology for Emissions
Natural Gas
50 Average Asset Book Depreciation (years)
30 Tax depreciation (years)
Source:
California Public Utility Commissi
Note: Inputs have been escalated
Debt Cost
Debt %
Target Return on Equity
Equity %
WACC
Rate Setting
Electric
Investor-Owned
Natural Gas
Investor-Owned
1
1
2007
2.00%
1
1
2007
2.00%
Description
2010 Investment 1 Description
2010 Investment 2 Description
2010 Investment 3 Description
Description
2010 Investment 1 Description
2010 Investment 2 Description
2010 Investment 3 Description
Capital Cost
(Nominal $M)
0
0
0
1
Capital Expenditure (Nominal $Millions)
1
0.9
0.8
0.7
0.6
0.5
0.4
Row 115
0.3
Row 118
0.2
0.1
0.9
0.8
0.7
0.6
0.5
0.4
0.3
Row 132
Row 135
0.2
0.1
0
0
2007
2008
2009
2010
2011 2012
Year
2013
2014
2015
2016
2007
2008
2009
2010
2011
2012
Year
2013
2014
2015
2016
Summary of Results
Program Cost
Electric
Gas
Utility Program Spending (% of utility revenue)
2.0%
Total Cost of Efficiency (Customer & Utility)
$35/MWh
Cost of Efficiency (Customer)
$15/MWh
Average Annual Cost of Efficiency $MM
$6,829
Total Cost of Efficiency (NPV, $MM)
$139,247
Efficiency Spending - Customer (NPV, $MM)
$59,677
Efficiency Program Spending - Utility (NPV, $MM)
$79,570
Resulting Savings
Electric
Gas
Net Customer Savings (NPV, $MM)
$276,893
Annual Customer Savings $MM
$18,012
Net Resource Savings (NPV, $MM)
$270,879
Annual Net Resource Savings ($MM)
$17,621
Decrease in Revenue Requirement (NPV, $MM)
$336,571
Annual Decrease in Revenue Requirement ($MM)
$21,894
Energy Savings
Electric
Gas
Percent of Growth Saved
61%
Percent of Consumption Saved
12%
Energy Saved (maximum annual)
587,889 GWh
Energy Saved (cumulative)
9,448,217 GWh
Peak Capacity Saved (MW) (Derated)
33555
Emissions Reductions
Electric
Gas
CO2 Emissions Reduction (1000 Tons)
337,889
NOx Emissions Reduction (Tons)
66,578
Other Assumptions
Load Growth (%)
NPV term of discounting period (years)
Utility NPV discount rate
Customer NPV discount rate
EE Project Life Term (years)
Electric
Total
0.5%
$3/MMBtu
$2/MMBtu
$1,248
$25,452
$12,726
$12,726
$276,893
$276,893
$353,394
$139,247
$344,919
$7,878,997
$425,797
$7,878,997
Total
$76,500
$4,976
$74,040
$4,816
$89,226
$5,804
Total
52%
5%
1,192 BCF
19,159 BCF
Total
71,900
61,453
Gas
2%
30
5%
5%
15
electr
$164,699
$72,403
$92,296
1%
30
5%
5%
15
409,789
128,031
Electric Utility
Customer Perspective
Utility Perspective
15.0%
10.0%
5.0%
0.0%
1
10
Year
ROE%
ROE%
ROE%
T arget
10
$10,000.0
$5,000.0
$$(5,000.0)
$(10,000.0)
$(15,000.0)
1
- No EE
- EE no Dec oupli ng
- EE and Dec oupli ng
ROE%
10
Year
Utility Earnings
$23,500
$350
$23,000
$300
$22,500
$/MWh
Earnings ($MM)
$0.12
$0.10
$0.08
$0.06
$0.04
$0.02
$1
$22,000
$250
$200
$150
$100
$21,500
9 10
Year
$50
10
$-
Year
Earnings $MM - No EE
4.5%
4.0%
3.5%
3.0%
2.5%
2.0%
1.5%
1.0%
0.5%
0.0%
10
Year($/MWh saved)
Soc i etal Cost
Soc i etal Savings ($/MWh
saved)
Earnings $MM - EE no
Dec oupli ng
1
2
70000
50000
150000
40000
100000
30000
50000
10000
Year
200000
60000
Year
250000
T ons CO Saved
20000
9 10
0
1
5 6
Year
9 10
1.00
115%
$MM Saved
80000
700,000
600,000
500,000
400,000
300,000
200,000
100,000
-
Tons Saved
GWh
% Change in Rate
$15,000.0
Year
$20,000.0
3.0%
2.0%
1.0%
0.0%
-1.0%
-2.0%
-3.0%
-4.0%
-5.0%
-6.0%
1
Investor-owned Utility
Comparison of Return on Equity
110%
105%
100%
0.80
0.60
0.40
0.20
95%
90%
1
Year
10
Year
CO2
PM10
CO
8
NOx
SOx
VOC
10
Customer Perspective
Investor-owned Utility
Comparison of Return on Equity
1.0%
-1.0%
-2.0%
-3.0%
1
10
15.0%
10.0%
5.0%
0.0%
1
ROE%
ROE%
ROE%
T arget
10
- No EE
- EE no Dec oupl ing
- EE and Decoupl ing
ROE%
$2,000.0
$$(2,000.0)
$(4,000.0)
1
$1.30
$1.10
$0.90
$0.70
$0.50
$3.00
$34,000
$2.50
$32,000
$2.00
$30,000
$28,000
10
Year
Earnings $MM - EE no
Dec oupl ing
9 10
10
Year
Soc i etal
Savings ($/therm
saved)
Soc i etal Cost ($/therm saved)
108%
106%
104%
102%
100%
98%
96%
Tons Saved
Year
9 10
50000
40000
0
1
2,000,000
60%
50%
40%
30%
20%
10%
0%
1,500,000
1,000,000
500,000
4
Year
Gas
Savings mc f
Dem and Growth mc f
Perc ent Growth Offset
5 6
Year
10
10000
Tons CO Saved
20000
30000
Year
$-
10
$1.00
Year
mcf
Earnings $MM - no EE
0.7%
0.6%
0.5%
0.4%
0.3%
0.2%
0.1%
0.0%
$0.50
1
$1.50
9 10
5
$MM Saved
$36,000
$26,000
1
Ye ar
$/therm
Earnings ($MM)
$4,000.0
Utility Earnings
Year
Year
% Change in Rate
$6,000.0
0.0%
Utility Perspective
4
3
2
1
0
1
5
Year
CO2
PM10
CO
7
NOx
SOx
VOC
10
A business case is an analysis that shows the benefits of energy efficiency to customers, the utility, and society within an approach that can lead to
actions by utilities, regulators, and other stakeholders. Making the business case for energy efficiency programs requires a different type of analysis
than that required for traditional supply-side resources. Because adoption of energy efficiency reduces utility sales and utility size, traditional
metrics such as impact on rates and total earnings do not measure the benefits of energy efficiency. By examining other metrics, however, such as
customer bills and utility earnings per share, the benefits to all stakeholders of adopting energy efficiency can be demonstrated. (These benefits
include reduced customer bills, decreased cost per megawatt-hour (MWh) of energy provided, increased net resource savings, decreased emissions,
and decreased reliance on energy supplies.)
The summary and interpretation of results below demonstrates the benefits of energy efficiency to customers, the utility, and society, based on the
assumptions active in the Energy Efficiency Benefits Calculator. Select a case from the Business Case Summary by using the pull-down list in the
upper right-hand corner of this sheet.
Resulting Savings
Net Customer Savings (NPV, $MM)
Annual Customer Savings $MM
Net Societal Savings (NPV, $MM)
Annual Net Societal Savings ($MM)
Decrease in Revenue Requirement (NPV, $MM)
Annual Decrease in Revenue Requirement ($MM)
Energy Savings
Percent of Growth Saved, Year 15
Percent of Consumption Saved, Year 15
Peak Load Reduction, Year 15 (Derated)
Energy Saved, Year 15
Energy Saved (cumulative)
Emissions Reductions
CO2 Emissions Reduction (1000 Tons)
NOx Emissions Reduction (Tons)
Other Assumptions
Load Growth (%)
NPV term of discounting period (years)
Utility NPV discount rate
Customer NPV discount rate
EE Project Life Term (years)
Electric
2.0%
$35/MWh
$15/MWh
$6,829
$139,247
$59,677
$79,570
Natural Gas
0.5%
$3/MMBtu
$2/MMBtu
$1,248
$25,452
$12,726
$12,726
Electric
$276,893
$18,012
$270,879
$17,621
$336,571
$21,894
Electric
61%
12%
33,555 MW
587,889 GWh
9,448,217 GWh
Electric
337,889
66,578
Natural Gas
$76,500
$4,976
$74,040
$4,816
$89,226
$5,804
Natural Gas
52%
5%
Electric
2%
30
5%
5%
15
1,192 BCF
19,159 BCF
Natural Gas
71,900
61,453
Natural Gas
1%
30
5%
5%
15
Page 16 of 44
Total
$164,699
$72,403
$92,296
Total
$353,394
$22,989
$344,919
$22,437
$425,797
$27,699
Total
Total
409,789
128,031
Page 17 of 44
Electric
Customer Perspective
Natural Gas
3.0%
-1.0%
-5.0%
-9.0%
-13.0%
-17.0%
-21.0%
-25.0%
1
10
3.0%
2.0%
1.0%
0.0%
-1.0%
-2.0%
-3.0%
-4.0%
-5.0%
-6.0%
1
Years
10
Years
$0.22
$0.17
$0.12
$0.07
1
Years
10
$1.50
$1.30
$1.10
$0.90
$0.70
1
10
Years
Page 18 of 44
Utility Perspective
Natural Gas
Electric
Investor-Owned Utility
Comparison of Return on Equity
Investor-Owned Utility
Comparison of Return on Equity
13.0%
13.0%
After Tax ROE (%)
11.0%
9.0%
7.0%
5.0%
1
11.0%
9.0%
7.0%
5.0%
10
ROE%Years
- No EE
ROE% - EE no Dec oupling
ROE% - EE and Dec oupling
Target ROE%
0
10
Years
- No EE
ROE%
ROE%
ROE%
Target
- EE no Dec oupling
- EE and Dec oupling
ROE%
Utility Earnings
Utility Earnings
$23,400
$23,200
$23,000
$22,800
$22,600
$22,400
$22,200
$22,000
$21,800
$21,600
Earnings ($MM)
Earnings ($MM)
Year
10
$35,000
$34,000
$33,000
$32,000
$31,000
$30,000
$29,000
$28,000
$27,000
1
10
Year
Earnings $MM - No EE
Earnings $MM - no EE
Earnings $MM - EE no
Dec oupling
Earnings $MM - EE no
Dec oupling
Page 19 of 44
Natural Gas
Electric
$20,000.0
Net Societal Benefit ($M)
$15,000.0
$10,000.0
$5,000.0
$$(5,000.0)
$(10,000.0)
$(15,000.0)
1
$5,000.0
$4,000.0
$3,000.0
$2,000.0
$1,000.0
$$(1,000.0)
$(2,000.0)
$(3,000.0)
1
9 10
Year
Year
$300
$(100)
$(500)
1
5
6
Years
10
$/therm
$6.00
$5.00
$4.00
$3.00
$2.00
$1.00
$1
10
Years
Soc ietal Savings ($/therm saved)
Page 20 of 44
Electric
Natural Gas
Tons Saved
60,000
50,000
150,000
40,000
100,000
30,000
20,000
50,000
10,000
0
0
1
5 6
Year
9 10
40,000
200,000
45,000
Tons Saved
70,000
Tons CO Saved
50,000
250,000
80,000
Tons CO Saved
Tons VOC Saved
35,000
30,000
25,000
20,000
15,000
10,000
5,000
0
1
5 6
Year
10
Page 21 of 44
Electric
Natural Gas
700,000
80%
70%
60%
50%
40%
30%
20%
10%
0%
600,000
GWh
500,000
400,000
300,000
200,000
100,000
1
MCF
10
1,600,000
1,400,000
1,200,000
1,000,000
800,000
600,000
400,000
200,000
-
60%
50%
40%
30%
20%
10%
0%
1
Year
9 10
Year
Gas Savings mc f
Demand Growth mc f
Perc ent Growth Offset
160%
110%
Peak Load % of First Yr
150%
140%
130%
120%
110%
100%
90%
1
10
Years
Forec asted Growth - No EE
Forec asted Growth - EE and Dec oupling
105%
100%
95%
90%
1
10
Years
Page 22 of 44
Case 1: LowGrowth
Electric and
Gas Utility
Case 2: HighGrowth
Electric and
Gas Utility
Case 3: Low
Growth with
2009
Powerplant
Case 4: High
Growth with
2009
Powerplant
Case 5:
Vertically
Integrated
Utility
Case 6:
Distribution
Utility
Case 7:
Electric
Public/Coop
- Debt
Coverage
Ratio
Case 8:
Electric
Public/Coop
- No Debt
Case 1:
Low-Growth
Electric and
Gas Utility
Case 2:
High-Growth
Electric and
Gas Utility
Utility Size
Annual Revenue ($mil) - Year 0
Peak Load (MW) or Sales (BCF) - Year 0
Parameter Tested
$284
$284
$284
$284
$284
$284
$284
$284
$344
$344
600 MW
600 MW
600 MW
600 MW
600 MW
600 MW
600 MW
600 MW
33 BCF
33 BCF
Vertical Utility
Delivery Utility
Load Growth
Load Growth
Load Growth
Load Growth
Load Growth
Load Growth
Debt
Coverage
Ratio
Cash
Position
1%
5%
1%
5%
2%
2%
2%
2%
0%
2%
$0.16/kWh
$0.15/kWh
$0.16/kWh
$0.15/kWh
$0.16/kWh
$0.16/kWh
$0.12/kWh
$0.10/kWh
$0.91/Therm
$0.90/Therm
8,105 GWh
8,105 GWh
8,105 GWh
8,105 GWh
8,105 GWh
8,105 GWh
8,105 GWh
31 BCF
31 BCF
2.0%
2.0%
2.0%
2.0%
2.0%
2.0%
2.0%
2.0%
0.5%
0.5%
$70
$70
$70
$70
$70
$70
$70
$70
$21
$21
15
15
15
15
15
15
15
15
15
142%
21%
142%
21%
66%
66%
66%
66%
$35.00
$35.00
$35.00
$35.00
$35.00
$35.00
$35.00
$35.00
$3.00
$3.00
$20.00
$20.00
$20.00
$20.00
$20.00
$20.00
$20.00
$20.00
$1.50
$1.50
$15.00
$15.00
$15.00
$15.00
$15.00
$15.00
$15.00
$15.00
$1.50
$1.50
#NA
15
18%
Revenue Requirement and Net Societal Savings do not change with decoupling.
Business Case Results are the difference between the No EE and EE cases.
$396
5.5%
$318
3.0%
$476
6.0%
$338
3.0%
$359
4.9%
$348
4.4%
$347
4.8%
$323
5.1%
$139
2.5%
$142
2.2%
$407
7.1%
$342
5.8%
$503
8.7%
$364
6.2%
$373
6.4%
$363
6.3%
$292
6.6%
$280
7.3%
$123
2.6%
$129
2.7%
$247
4.3%
$236
4.0%
$319
5.5%
$275
4.7%
$307
5.3%
$222
3.8%
$98
2.2%
$240
6.2%
$19
0.4%
$64
1.3%
$289
8.2%
$258
4.5%
$332
8.4%
$269
4.4%
$263
9.2%
$271
7.0%
$271
7.0%
$271
7.0%
$118
4.7%
$119
3.7%
Air Emission Savings are the difference between No EE and EE cases and do not change when decoupling is activated.
311
311
311
311
311
311
311
311
128
128
61
61
61
61
61
61
61
61
107
107
Year
Year Index
CALCULATE RATE ADJUSTMENT YEAR
Utility Type (1=investor owned; 2=municipal / coop)
Investor Owned Utility Flag Calculations
Switch for Cycle or Earnings Band Rate Setting (1=cycle; 0=band)
Years between cases
Next rate case year
Band on Earnings %
Flag for Year of Large Capex Spend
Flag for Required Rate Case based on Capex
Adjusted next rate case year
Adjusted Flag for Rate Case Year - Investor Owned Utility, Cycle Method
Achieved ROE without Decoupling Effect
Target ROE
Year on Year Difference
Hurdle Band for Rate Base Year
Flag for Rate Case Year - Investor Owned Utility, Band Method
Adjusted Flag for Rate Case Year - Investor Owned Utility, Band Method
Public Utility Flag Calculations
Switch for Earnings Ratio or Cash Position (1=earnings ratio, 2=cash position)
Debt Coverage Ratio Method
Revenue - without decoupling
Less: operating expenses
Pre-Tax Cash Available for Debt Service
Debt Service Assumption
Depreciation = debt principal repaid
Interest
Total Debt Service
Debt Service Coverage Ratio
Hurdle
Rate Case Flag for Debt Coverage Method
Adjusted Rate Case Flag for Debt Coverage Method
Cash Position Method
Beginning Cash Position
Cash Earned
Beginning Cash Balance
Cash Distributed
End of Year Cash Position
Minimum Cash Position Threshhold
Amount Short
Rate Case Flag for Cash Position Method
Adjusted Rate Case Flag for Cash Position Method
2007
2010
4
2011
5
2012
6
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
339,404.8
289,062.9
50,341.93
351,129.4
299,794.4
51,334.99
363,239.8
310,927.7
52,312.16
375,751.5
322,478.4
53,273.08
388,680.6
334,463.2
54,217.37
402,043.8
346,899.1
55,144.65
14,006.2
14,130.5
28,136.8
1.79
14,694.6
14,249.0
28,943.7
1.77
15,398.8
14,355.2
29,754.0
1.76
16,119.3
14,448.7
30,568.0
1.74
16,856.2
14,529.3
31,385.6
1.73
17,610.2
14,596.7
32,206.9
1.71
FALSE
FALSE
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
22,205.14
22,255.1
22,205.14
50.00
22,391.34
22,441.3
22,391.34
50.00
22,558.14
22,608.1
22,558.14
50.00
22,705.12
22,755.1
22,705.12
50.00
22,831.81
22,881.8
22,831.81
50.00
22,937.74
22,987.7
22,937.74
50.00
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
1.02
1.00
3,928,872,000
-
1.02
1.00
3,991,733,952
-
1.02
1.00
4,055,601,695
-
1.02
1.00
4,120,491,322
-
1.02
1.00
4,186,419,184
-
1.02
1.00
4,253,401,890
-
3,928,872,000
3,991,733,952
4,055,601,695
4,120,491,322
4,186,419,184
4,253,401,890
1.02
3,928,872,000
3,928,872,000
1.02
3,991,733,952
3,991,733,952
1.02
4,055,601,695
4,055,601,695
1.02
4,120,491,322
4,120,491,322
1.02
4,186,419,184
4,186,419,184
1.02
4,253,401,890
4,253,401,890
3,928,872,000
1.06
4,164,604,320
3,991,733,952
1.06
4,231,237,989
4,055,601,695
1.06
4,298,937,797
4,120,491,322
1.06
4,367,720,802
4,186,419,184
1.06
4,437,604,335
4,253,401,890
1.06
4,508,606,004
1.02
62.46
1.05
63.90
1.07
65.37
1.10
66.87
1.12
68.41
1.15
69.98
62.46
63.90
65.37
66.87
68.41
69.98
4,164,604,320
260,132.2
260,132.2
4,231,237,989
270,373.1
270,373.1
4,298,937,797
281,017.1
281,017.1
4,367,720,802
292,080.2
292,080.2
4,437,604,335
303,578.8
303,578.8
4,508,606,004
315,530.1
315,530.1
75.72
60.10
72.86
57.82
73.22
58.11
74.09
58.80
75.80
60.16
77.54
61.54
2.00%
2.00
50.00
45.00
956,000
46%
3,867,000,000
100%
3,867,000,000
3,867,000,000
3,867,000,000
3,867,000,000
$61.06
0%
2009
3
1
1
2007
2%
2008
2
2007
1
100%
-
0
0
0
0
0
0
0
0
0
0
0
0
-
0%
75.72
60.10
-
72.86
57.82
-
73.22
58.11
-
74.09
58.80
-
75.80
60.16
-
77.54
61.54
-
260,132
260,132
270,373
270,373
281,017
281,017
292,080
292,080
303,579
303,579
315,530
315,530
1.02
956,000
-
1.05
971,296
-
1.07
986,837
-
1.10
1,002,626
-
1.12
1,018,668
-
1.15
1,034,967
-
260,132.2
260,132.2
270,373.1
270,373.1
281,017.1
281,017.1
292,080.2
292,080.2
303,578.8
303,578.8
315,530.1
315,530.1
Capital Expenditures
Line Item Capacity Capex $MM
Capital Expenditure (Growth and Other) $MM
20,187
20,652
21,126
21,612
22,109
22,618
20,187
20,652
21,126
21,612
22,109
22,618
1.02
16,974
1.05
17,364
1.07
17,764
1.10
18,172
1.12
18,590
1.15
19,018
420,187.2
440,838.7
461,965.2
483,577.6
505,687.1
528,305.1
5%
5%
5%
5%
5%
5%
400,000.0
21,009.4
20,187.2
399,177.8
399,177.8
22,041.9
20,651.5
397,787.4
397,787.4
23,098.3
21,126.5
395,815.6
395,815.6
24,178.9
21,612.4
393,249.2
393,249.2
25,284.4
22,109.5
390,074.3
390,074.3
26,415.3
22,618.0
386,277.0
0%
O&M Expenditures
O&M - yr1
O&M Cost Escalation
Total Electric O&M Expenditures
RATE BASE AND REVENUE REQUIREMENTS
Deferred Taxes - Electric Utility
Basis for Depreciation
Deferred Tax
Tax life (years)
Tax Depreciation Schedule (assumed average straight line, vs MACRS)
Beginning Tax Basis
Tax Depreciation Schedule (assumed average straight line, vs MACRS)
Capex
Ending Tax Basis
Book life (years)
Book Depreciation
Beginning Book Basis
Book Depreciation
CapEx
Ending Book Basis
Tax Rate
Annual Deferred Tax
Accumulated Deferred Income Tax (ADIT) - electric utility
$16,592.40
400,000
20
400,000
30
400,000
3%
3%
3%
3%
3%
406,181.0
14,694.6
20,651.5
412,137.8
412,137.8
15,398.8
21,126.5
417,865.5
417,865.5
16,119.3
21,612.4
423,358.6
423,358.6
16,856.2
22,109.5
428,611.9
428,611.9
17,610.2
22,618.0
433,619.7
2,451.1
2,451.1
2,571.6
5,022.7
2,694.8
7,717.4
2,820.9
10,538.3
2,949.8
13,488.2
3,081.8
16,569.9
420187.2
14,006.2
2,451.1
403,729.9
440838.7
28,700.9
5,022.7
407,115.2
461965.2
44,099.7
7,717.4
410,148.0
483577.6
60,219.0
10,538.3
412,820.3
505687.1
77,075.2
13,488.2
415,123.7
528305.1
94,685.4
16,569.9
417,049.8
201,864.9
201,864.9
203,557.6
203,557.6
205,074.0
205,074.0
206,410.2
206,410.2
207,561.9
207,561.9
208,524.9
208,524.9
20,187.2
14,006.2
6,431.0
20,651.5
14,694.6
12,387.8
21,126.5
15,398.8
18,115.5
21,612.4
16,119.3
23,608.6
22,109.5
16,856.2
28,861.9
22,618.0
17,610.2
33,869.7
201,864.9
14,130.5
203,557.6
14,249.0
205,074.0
14,355.2
206,410.2
14,448.7
207,561.9
14,529.3
208,524.9
14,596.7
201,864.9
22,205.1
203,557.6
22,391.3
205,074.0
22,558.1
206,410.2
22,705.1
207,561.9
22,831.8
208,524.9
22,937.7
35.00%
Rate Base
Rate Base Assets
Depreciation Reserve
Deferred Tax Reserve
Rate Base
Investor-owned Utility - Interest and Returns
Rate Base % Debt
Rate Base % Equity
Rate Base Debt
Rate Base Equity
3%
400,000.0
14,006.2
20,187.2
406,181.0
50%
50%
250.00
7%
11.0%
Tax Rate
Tax - electric utility
35%
11,956.6
12,056.9
12,146.7
12,225.8
12,294.0
12,351.1
28,136.8
28,136.8
28,943.7
28,943.7
29,754.0
29,754.0
30,568.0
30,568.0
31,385.6
31,385.6
32,206.9
32,206.9
15,150.6
15,585.0
16,021.4
16,459.7
16,899.9
17,342.2
339,404.8
351,129.4
363,239.8
375,751.5
388,680.6
402,043.8
3,318.5
22,205.1
3,394.0
22,391.3
3,511.3
22,558.1
3,632.4
22,705.1
3,757.5
22,831.8
3,886.8
22,937.7
22,205.1
14,006.2
14,130.5
16,974.0
260,132.2
11,956.6
339,404.8
22,391.3
14,694.6
14,249.0
17,364.4
270,373.1
12,056.9
351,129.4
22,558.1
15,398.8
14,355.2
17,763.8
281,017.1
12,146.7
363,239.8
22,705.1
16,119.3
14,448.7
18,172.4
292,080.2
12,225.8
375,751.5
22,831.8
16,856.2
14,529.3
18,590.3
303,578.8
12,294.0
388,680.6
22,937.7
17,610.2
14,596.7
19,017.9
315,530.1
12,351.1
402,043.8
339,404.8
14,006.2
291,236.8
34,161.8
11,956.6
22,205.14
11.0%
351,129.4
14,694.6
301,986.6
34,448.2
12,056.9
22,391.34
11.0%
363,239.8
15,398.8
313,136.1
34,704.8
12,146.7
22,558.14
11.0%
375,751.5
16,119.3
324,701.3
34,931.0
12,225.8
22,705.12
11.0%
388,680.6
16,856.2
336,698.5
35,125.9
12,294.0
22,831.81
11.0%
402,043.8
17,610.2
349,144.8
35,288.8
12,351.1
22,937.74
11.0%
$339,404.79
$79,272.57
$260,132.21
$351,129.39
$80,756.29
$270,373.10
$363,239.82
$82,222.67
$281,017.15
$375,751.52
$83,671.30
$292,080.23
$388,680.61
$85,101.77
$303,578.84
$402,043.80
$86,513.66
$315,530.14
2
2.00
35%
331,848.07
1%
35%
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
3,928,872,000 3,991,733,952 4,055,601,695 4,120,491,322 4,186,419,184 4,253,401,890
3,928,872,000 3,991,733,952 4,055,601,695 4,120,491,322 4,186,419,184 4,253,401,890
0.085815378
$0.0200
$0.0658
Balancing Accounts
Decoupling
Actual Non-fuel Revenue Collection
Actual Fuel Revenue Collection
$0.0202
$0.0662
$0.0864
$0.0202
$0.0677
$0.0880
$0.0203
$0.0693
$0.0896
$0.0203
$0.0709
$0.0912
$0.0203
$0.0725
$0.0928
$0.0203
$0.0742
$0.0945
79,272.57
260,132.21
80,756.29
270,373.10
82,222.67
281,017.15
83,671.30
292,080.23
85,101.77
303,578.84
86,513.66
315,530.14
100%
0%
$0.020
$0.066
$$$$0.086
339,404.79
35%
50.00
$0.020
$0.068
$$$$0.088
351,129.39
$0.020
$0.069
$$$$0.090
363,239.82
$0.020
$0.071
$$$$0.091
375,751.52
$0.020
$0.073
$$$$0.093
388,680.61
$0.02
$0.07
$$$$0.095
402,043.80
339,404.79
305,243.0
34,161.8
11,956.6
22,205.1
11.0%
351,129.4
316,681.2
34,448.2
12,056.9
22,391.3
11.0%
363,239.8
328,535.0
34,704.8
12,146.7
22,558.1
11.0%
375,751.5
340,820.6
34,931.0
12,225.8
22,705.1
11.0%
388,680.6
353,554.8
35,125.9
12,294.0
22,831.8
11.0%
402,043.8
366,755.0
35,288.8
12,351.1
22,937.7
11.0%
62,299
28,137
2.21
63,392
28,944
2.19
64,459
29,754
2.17
65,499
30,568
2.14
66,511
31,386
2.12
67,496
32,207
2.10
50.00
50.00
50.00
50.00
50.00
50.00
339,405
351,129
363,240
375,752
388,681
402,044
Year
Year Index
2007
1
2007
2012
6
2013
7
2014
8
2015
9
2016
10
2017
11
2018
12
2019
13
2020
14
2021
15
2022
16
2023
17
2024
18
2025
19
2026
20
2027
21
2028
22
2029
23
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
346,174.5
295,832.6
50,341.93
354,977.3
303,768.1
51,209.25
364,143.3
312,079.8
52,063.52
373,628.0
320,723.6
52,904.38
383,334.5
329,603.0
53,731.49
393,338.4
338,793.9
54,544.48
403,652.2
348,309.2
55,342.98
414,289.1
358,162.5
56,126.60
425,262.8
368,367.8
56,894.97
436,587.4
378,939.8
57,647.68
448,278.1
389,893.7
58,384.32
460,350.2
401,245.7
59,104.48
472,819.9
413,012.2
59,807.73
485,704.3
425,210.7
60,493.63
499,020.9
437,859.2
61,161.73
503,677.0
441,865.4
61,811.57
526,008.2
463,286.7
62,721.45
549,181.8
485,576.0
63,605.83
573,231.3
508,767.1
64,464.20
598,191.1
532,895.1
65,295.99
624,097.3
557,996.7
66,100.65
650,987.1
584,109.5
66,877.61
678,899.3
611,273.0
67,626.27
14,006.2
14,130.5
28,136.8
1.79
14,659.6
14,213.7
28,873.4
1.77
15,328.6
14,285.8
29,614.4
1.76
16,013.6
14,346.4
30,360.0
1.74
16,714.8
14,395.4
31,110.2
1.73
17,432.8
14,432.3
31,865.1
1.71
18,167.9
14,457.0
32,624.9
1.70
18,920.5
14,469.1
33,389.5
1.68
19,690.9
14,468.2
34,159.2
1.67
20,479.7
14,454.2
34,933.9
1.65
21,287.2
14,426.7
35,713.8
1.63
22,113.8
14,385.2
36,499.1
1.62
22,960.1
14,329.6
37,289.8
1.60
23,826.5
14,259.4
38,085.9
1.59
24,713.4
14,174.3
38,887.8
1.57
25,621.3
14,074.0
39,695.3
1.56
26,628.3
14,036.2
40,664.5
1.54
27,657.8
13,979.8
41,637.6
1.53
28,710.4
13,904.3
42,614.6
1.51
29,786.5
13,809.2
43,595.8
1.50
30,886.8
13,694.3
44,581.1
1.48
32,011.7
13,559.0
45,570.7
1.47
33,161.8
13,402.8
46,564.7
1.45
2.00
FALSE
FALSE
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
22,335.87
22,385.9
22,335.87
50.00
22,449.10
22,499.1
22,449.10
50.00
22,544.38
22,594.4
22,544.38
50.00
22,621.28
22,671.3
22,621.28
50.00
22,679.34
22,729.3
22,679.34
50.00
22,718.11
22,768.1
22,718.11
50.00
22,737.09
22,787.1
22,737.09
50.00
22,735.82
22,785.8
22,735.82
50.00
22,713.78
22,763.8
22,713.78
50.00
22,670.48
22,720.5
22,670.48
50.00
22,605.39
22,655.4
22,605.39
50.00
22,517.97
22,568.0
22,517.97
50.00
22,407.68
22,457.7
22,407.68
50.00
22,273.97
22,324.0
22,273.97
50.00
22,116.26
22,166.3
22,116.26
50.00
22,056.92
22,106.9
22,056.92
50.00
21,968.23
22,018.2
21,968.23
50.00
21,849.55
21,899.6
21,849.55
50.00
21,700.23
21,750.2
21,700.23
50.00
21,519.59
21,569.6
21,519.59
50.00
21,306.95
21,356.9
21,306.95
50.00
21,061.60
21,111.6
21,061.60
50.00
50.00
22,205.14
22,255.1
22,205.14
50.00
45.00
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
1.02
1.00
###
-
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
-
1.02
1.00
###
-
1.02
1.00
###
-
1.02
1.00
###
-
1.02
1.00
4,633,028,358
-
1.02
1.00
4,707,156,812
-
1.02
1.00
4,782,471,321
-
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
###
###
###
###
4,633,028,358
4,707,156,812
4,782,471,321
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
4,633,028,358
5,396,871,020
1.02
4,707,156,812
5,483,220,956
1.02
4,782,471,321
5,570,952,492
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
5,396,871,020
1.06
5,720,683,281
5,483,220,956
1.06
5,812,214,214
5,570,952,492
1.06
5,905,209,641
1.02
62.46
1.05
63.90
1.07
65.37
1.10
66.87
1.12
68.41
1.15
69.98
1.17
71.59
1.20
73.24
1.23
74.92
1.26
76.65
1.28
78.41
1.31
80.21
1.34
82.06
1.37
83.95
1.41
85.88
1.44
87.85
1.47
89.87
1.51
91.94
1.54
94.05
1.58
96.22
1.61
98.43
1.65
100.70
1.69
103.01
62.46
###
260,132.2
260,132.2
63.90
###
270,373.1
270,373.1
65.37
###
281,017.1
281,017.1
66.87
###
292,080.2
292,080.2
68.41
###
303,578.8
303,578.8
69.98
###
315,530.1
315,530.1
71.59
###
327,951.9
327,951.9
73.24
###
340,862.7
340,862.7
74.92
###
354,281.8
354,281.8
76.65
###
368,229.2
368,229.2
78.41
###
382,725.6
382,725.6
80.21
###
397,792.8
397,792.8
82.06
###
413,453.1
413,453.1
83.95
###
429,729.9
429,729.9
85.88
###
446,647.5
446,647.5
87.85
###
464,231.1
464,231.1
89.87
###
482,507.0
482,507.0
91.94
###
501,502.3
501,502.3
94.05
###
521,245.5
521,245.5
96.22
###
541,765.9
541,765.9
98.43
5,720,683,281
563,094.1
563,094.1
100.70
5,812,214,214
585,262.0
585,262.0
103.01
5,905,209,641
608,302.6
608,302.6
956,000
46%
3,867,000,000
100%
3,867,000,000
3,867,000,000
3,867,000,000
3,867,000,000
$61.06
0%
0%
75.72
60.10
72.86
57.82
73.22
58.11
74.09
58.80
75.80
60.16
77.54
61.54
79.32
62.95
81.15
64.40
83.01
65.88
84.92
67.40
86.88
68.95
88.87
70.54
90.92
72.16
93.01
73.82
95.15
75.52
97.34
77.25
99.58
79.03
101.87
80.85
104.21
82.71
106.61
84.61
109.06
86.55
111.57
88.54
114.13
90.58
31,494,056
10,498,019
2295
607
2,902
62,988,112
20,996,037
4612
1220
5,832
94,482,167
31,494,056
7000
1852
8,852
125,976,223
41,992,074
9549
2526
12,075
157,470,279
52,490,093
12210
3230
15,440
188,964,335
62,988,112
14989
3965
18,955
220,458,390
73,486,130
17890
4733
22,622
251,952,446
83,984,149
20916
5533
26,449
283,446,502
94,482,167
24071
6368
30,439
314,940,558
104,980,186
27361
7238
34,599
346,434,614
115,478,205
30789
8145
38,935
377,928,669
125,976,223
34361
9090
43,451
409,422,725
136,474,242
38080
10074
48,154
440,916,781
146,972,260
41953
11099
53,051
472,410,837
157,470,279
45983
12165
58,148
440,916,781
146,972,260
43905
11615
55,520
409,422,725
136,474,242
41706
11033
52,740
377,928,669
125,976,223
39384
10419
49,803
346,434,614
115,478,205
36932
9770
46,702
314,940,558
104,980,186
34347
9086
43,433
283,446,502
94,482,167
31623
8366
39,989
251,952,446
83,984,149
28756
7607
36,363
75.72
60.10
-
72.86
57.82
31,494,056
10,498,019
2,295
607
2,902
73.22
58.11
62,988,112
20,996,037
4,612
1,220
5,832
74.09
58.80
94,482,167
31,494,056
7,000
1,852
8,852
75.80
60.16
125,976,223
41,992,074
9,549
2,526
12,075
77.54
61.54
157,470,279
52,490,093
12,210
3,230
15,440
79.32
62.95
188,964,335
62,988,112
14,989
3,965
18,955
81.15
64.40
220,458,390
73,486,130
17,890
4,733
22,622
83.01
65.88
251,952,446
83,984,149
20,916
5,533
26,449
84.92
67.40
283,446,502
94,482,167
24,071
6,368
30,439
86.88
68.95
314,940,558
104,980,186
27,361
7,238
34,599
88.87
70.54
346,434,614
115,478,205
30,789
8,145
38,935
90.92
72.16
377,928,669
125,976,223
34,361
9,090
43,451
93.01
73.82
409,422,725
136,474,242
38,080
10,074
48,154
95.15
75.52
440,916,781
146,972,260
41,953
11,099
53,051
97.34
77.25
472,410,837
157,470,279
45,983
12,165
58,148
99.58
79.03
440,916,781
146,972,260
43,905
11,615
55,520
101.87
80.85
409,422,725
136,474,242
41,706
11,033
52,740
104.21
82.71
377,928,669
125,976,223
39,384
10,419
49,803
106.61
84.61
346,434,614
115,478,205
36,932
9,770
46,702
109.06
86.55
314,940,558
104,980,186
34,347
9,086
43,433
111.57
88.54
283,446,502
94,482,167
31,623
8,366
39,989
114.13
90.58
251,952,446
83,984,149
28,756
7,607
36,363
260,132
260,132
267,472
267,472
275,185
275,185
283,228
283,228
291,504
291,504
300,090
300,090
308,997
308,997
318,240
318,240
327,833
327,833
337,790
337,790
348,126
348,126
358,858
358,858
370,002
370,002
381,575
381,575
393,596
393,596
406,083
406,083
426,987
426,987
448,762
448,762
471,443
471,443
495,063
495,063
519,661
519,661
545,273
545,273
571,939
571,939
1.02
956,000
-
1.05
971,296
-
1.07
986,837
-
1.10
1,002,626
-
1.12
1,018,668
-
1.15
1,034,967
-
1.17
1,051,526
-
1.20
1,068,351
-
1.23
1,085,444
-
1.26
1,102,811
-
1.28
1,120,456
-
1.31
1,138,384
-
1.34
1,156,598
-
1.37
1,175,103
-
1.41
1,193,905
-
1.44
1,213,008
-
1.47
1,232,416
-
1.51
1,252,134
-
1.54
1,272,168
-
1.58
1,292,523
-
1.61
1,313,204
-
1.65
1,334,215
-
1.69
1,355,562
-
100%
0
0
-
0%
0%
2011
5
2010
4
2.00%
2009
3
1
1
2007
2%
2008
2
0%
260,132
260,132.2
267,472
267,472
275,185
275,185
283,228
283,228
291,504
291,504
300,090
300,090
308,997
308,997
318,240
318,240
327,833
327,833
337,790
337,790
348,126
348,126
358,858
358,858
370,002
370,002
381,575
381,575
393,596
393,596
406,083
406,083
426,987
426,987
448,762
448,762
471,443
471,443
495,063
495,063
519,661
519,661
545,273
545,273
571,939
571,939
Capital Expenditures
Line Item Capacity Capex $MM
Capital Expenditure (Growth and Other) $MM
20,187
19,602
20,070
20,548
21,038
21,539
22,052
22,577
23,114
23,663
24,225
24,800
25,389
25,991
26,607
27,238
30,209
30,885
31,577
32,284
33,008
33,748
34,504
20,187
19,602
20,070
20,548
21,038
21,539
22,052
22,577
23,114
23,663
24,225
24,800
25,389
25,991
26,607
27,238
30,209
30,885
31,577
32,284
33,008
33,748
34,504
1.02
16,974
1.05
17,364
1.07
17,764
1.10
18,172
1.12
18,590
1.15
19,018
1.17
19,455
1.20
19,903
1.23
20,361
1.26
20,829
1.28
21,308
1.31
21,798
1.34
22,299
1.37
22,812
1.41
23,337
1.44
23,874
1.47
24,423
1.51
24,985
1.54
25,559
1.58
26,147
1.61
26,748
1.65
27,364
1.69
27,993
420,187
439,789
459,859
480,407
501,445
522,985
545,037
567,614
590,727
614,390
638,615
663,415
688,804
714,795
741,402
768,640
798,849
829,735
861,312
893,596
926,603
960,351
994,855
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
400,000
21,009
20,187
399,178
399,178
21,989
19,602
396,790
396,790
22,993
20,070
393,867
393,867
24,020
20,548
390,395
390,395
25,072
21,038
386,361
386,361
26,149
21,539
381,751
381,751
27,252
22,052
376,551
376,551
28,381
22,577
370,747
370,747
29,536
23,114
364,325
364,325
30,720
23,663
357,268
357,268
31,931
24,225
349,562
349,562
33,171
24,800
341,192
341,192
34,440
25,389
332,140
332,140
35,740
25,991
322,392
322,392
37,070
26,607
311,929
311,929
38,432
27,238
300,734
300,734
39,942
30,209
291,001
291,001
41,487
30,885
280,400
280,400
43,066
31,577
268,911
268,911
44,680
32,284
256,516
256,516
46,330
33,008
243,193
243,193
48,018
33,748
228,923
228,923
49,743
34,504
213,685
O&M Expenditures
O&M - yr1
O&M Cost Escalation
Total Electric O&M Expenditures
RATE BASE AND REVENUE REQUIREMENTS
Deferred Taxes - Electric Utility
Basis for Depreciation
Deferred Tax
Tax life (years)
Tax Depreciation Schedule (assumed average straight line, vs MACRS)
Beginning Tax Basis
Tax Depreciation Schedule (assumed average straight line, vs MACRS)
Capex
Ending Tax Basis
Book life (years)
Book Depreciation
Beginning Book Basis
Book Depreciation
CapEx
Ending Book Basis
Tax Rate
Annual Deferred Tax
Accumulated Deferred Income Tax (ADIT) - electric utility
Rate Base
Rate Base Assets
Depreciation Reserve
Deferred Tax Reserve
$16,592.40
400,000
20
400,000
30
400,000
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
400,000
14,006
20,187
406,181
406,181
14,660
19,602
411,123
411,123
15,329
20,070
415,864
415,864
16,014
20,548
420,399
420,399
16,715
21,038
424,723
424,723
17,433
21,539
428,829
428,829
18,168
22,052
432,713
432,713
18,920
22,577
436,369
436,369
19,691
23,114
439,792
439,792
20,480
23,663
442,975
442,975
21,287
24,225
445,913
445,913
22,114
24,800
448,600
448,600
22,960
25,389
451,028
451,028
23,827
25,991
453,193
453,193
24,713
26,607
455,087
455,087
25,621
27,238
456,703
456,703
26,628
30,209
460,284
460,284
27,658
30,885
463,511
463,511
28,710
31,577
466,378
466,378
29,787
32,284
468,876
468,876
30,887
33,008
470,996
470,996
32,012
33,748
472,732
472,732
33,162
34,504
474,075
35.00%
2,451.1
2,451.1
2,565.4
5,016.5
2,682.5
7,699.0
2,802.4
10,501.4
2,925.1
13,426.5
3,050.7
16,477.3
3,179.4
19,656.6
3,311.1
22,967.7
3,445.9
26,413.6
3,583.9
29,997.6
3,725.3
33,722.8
3,869.9
37,592.7
4,018.0
41,610.8
4,169.6
45,780.4
4,324.8
50,105.3
4,483.7
54,589.0
4,660.0
59,248.9
4,840.1
64,089.1
5,024.3
69,113.4
5,212.6
74,326.0
5,405.2
79,731.2
5,602.0
85,333.3
5,803.3
91,136.6
420187.2
14,006.2
2,451.1
439789.2
28,665.9
5,016.5
459858.9
43,994.5
7,699.0
480407.3
60,008.1
10,501.4
501445.5
76,722.9
13,426.5
522984.7
94,155.8
16,477.3
545036.8
112,323.7
19,656.6
567613.5
131,244.1
22,967.7
590727.2
150,935.0
26,413.6
614390.1
171,414.7
29,997.6
638615.2
192,701.9
33,722.8
663415.5
214,815.7
37,592.7
688804.3
237,775.8
41,610.8
714795.2
261,602.4
45,780.4
741402.3
286,315.8
50,105.3
768639.9
311,937.1
54,589.0
798849.2
338,565.4
59,248.9
829734.7
366,223.2
64,089.1
861311.6
394,933.6
69,113.4
893595.8
424,720.1
74,326.0
926603.4
455,606.9
79,731.2
960350.9
487,618.6
85,333.3
994855.2
520,780.4
91,136.6
Rate Base
Investor-owned Utility - Interest and Returns
Rate Base % Debt
Rate Base % Equity
Rate Base Debt
Rate Base Equity
Municipal - Cooperative Utility Debt Cost
Initial Debt Level
Capital Expenditures
Principal Repayment (= Depreciation)
Debt Level
403,729.9
406,106.8
408,165.4
409,897.8
411,296.0
412,351.7
413,056.5
413,401.7
413,378.5
412,977.9
412,190.6
411,007.0
409,417.6
407,412.4
404,981.3
402,113.8
401,034.9
399,422.4
397,264.6
394,549.6
391,265.2
387,399.0
382,938.1
201,864.9
201,864.9
203,053.4
203,053.4
204,082.7
204,082.7
204,948.9
204,948.9
205,648.0
205,648.0
206,175.9
206,175.9
206,528.2
206,528.2
206,700.8
206,700.8
206,689.3
206,689.3
206,488.9
206,488.9
206,095.3
206,095.3
205,503.5
205,503.5
204,708.8
204,708.8
203,706.2
203,706.2
202,490.6
202,490.6
201,056.9
201,056.9
200,517.4
200,517.4
199,711.2
199,711.2
198,632.3
198,632.3
197,274.8
197,274.8
195,632.6
195,632.6
193,699.5
193,699.5
191,469.1
191,469.1
20,187.2
14,006.2
6,431.0
19,602.0
14,659.6
11,373.3
20,069.7
15,328.6
16,114.4
20,548.4
16,013.6
20,649.2
21,038.1
16,714.8
24,972.5
21,539.3
17,432.8
29,079.0
22,052.1
18,167.9
32,963.1
22,576.7
18,920.5
36,619.4
23,113.6
19,690.9
40,042.1
23,663.0
20,479.7
43,225.5
24,225.1
21,287.2
46,163.4
24,800.3
22,113.8
48,849.8
25,388.8
22,960.1
51,278.4
25,991.0
23,826.5
53,442.9
26,607.1
24,713.4
55,336.6
27,237.6
25,621.3
56,952.8
30,209.4
26,628.3
60,533.8
30,885.4
27,657.8
63,761.4
31,576.9
28,710.4
66,628.0
32,284.2
29,786.5
69,125.6
33,007.6
30,886.8
71,246.5
33,747.5
32,011.7
72,982.3
34,504.3
33,161.8
74,324.7
201,864.9
14,130.5
203,053.4
14,213.7
204,082.7
14,285.8
204,948.9
14,346.4
205,648.0
14,395.4
206,175.9
14,432.3
206,528.2
14,457.0
206,700.8
14,469.1
206,689.3
14,468.2
206,488.9
14,454.2
206,095.3
14,426.7
205,503.5
14,385.2
204,708.8
14,329.6
203,706.2
14,259.4
202,490.6
14,174.3
201,056.9
14,074.0
200,517.4
14,036.2
199,711.2
13,979.8
198,632.3
13,904.3
197,274.8
13,809.2
195,632.6
13,694.3
193,699.5
13,559.0
191,469.1
13,402.8
201,864.9
22,205.1
203,053.4
22,335.9
204,082.7
22,449.1
204,948.9
22,544.4
205,648.0
22,621.3
206,175.9
22,679.3
206,528.2
22,718.1
206,700.8
22,737.1
206,689.3
22,735.8
206,488.9
22,713.8
206,095.3
22,670.5
205,503.5
22,605.4
204,708.8
22,518.0
203,706.2
22,407.7
202,490.6
22,274.0
201,056.9
22,116.3
200,517.4
22,056.9
199,711.2
21,968.2
198,632.3
21,849.6
197,274.8
21,700.2
195,632.6
21,519.6
193,699.5
21,306.9
191,469.1
21,061.6
11,956.6
12,027.0
12,088.0
12,139.3
12,180.7
12,212.0
12,232.8
12,243.1
12,242.4
12,230.5
12,207.2
12,172.1
12,125.1
12,065.7
11,993.7
11,908.8
11,876.8
11,829.0
11,765.1
11,684.7
11,587.5
11,473.0
11,340.9
50%
50%
250.00
7%
11.0%
35%
2
2.00
28,136.8
28,136.8
35%
Balancing Accounts
Decoupling
Actual Non-fuel Revenue Collection
Actual Fuel Revenue Collection
29,614.4
29,614.4
30,360.0
30,360.0
31,110.2
31,110.2
31,865.1
31,865.1
32,624.9
32,624.9
33,389.5
33,389.5
34,159.2
34,159.2
34,933.9
34,933.9
35,713.8
35,713.8
36,499.1
36,499.1
37,289.8
37,289.8
38,085.9
38,085.9
38,887.8
38,887.8
39,695.3
39,695.3
40,664.5
40,664.5
41,637.6
41,637.6
42,614.6
42,614.6
43,595.8
43,595.8
44,581.1
44,581.1
45,570.7
45,570.7
46,564.7
46,564.7
15,150.6
15,547.2
15,946.2
16,347.7
16,751.7
17,158.1
17,567.2
17,979.0
18,393.4
18,810.6
19,230.5
19,653.4
20,079.1
20,507.8
20,939.6
21,374.4
21,896.3
22,420.2
22,946.3
23,474.6
24,005.2
24,538.0
25,073.3
346,174.5
354,977.3
364,143.3
373,628.0
383,334.5
393,338.4
403,652.2
414,289.1
425,262.8
436,587.4
448,278.1
460,350.2
472,819.9
485,704.3
499,020.9
503,677.0
526,008.2
549,181.8
573,231.3
598,191.1
624,097.3
650,987.1
678,899.3
3,318.5
22,205.1
3,461.7
22,335.9
3,549.8
22,449.1
3,641.4
22,544.4
3,736.3
22,621.3
3,833.3
22,679.3
3,933.4
22,718.1
4,036.5
22,737.1
4,142.9
22,735.8
4,252.6
22,713.8
4,365.9
22,670.5
4,482.8
22,605.4
4,603.5
22,518.0
4,728.2
22,407.7
4,857.0
22,274.0
4,990.2
22,116.3
5,036.8
22,056.9
5,260.1
21,968.2
5,491.8
21,849.6
5,732.3
21,700.2
5,981.9
21,519.6
6,241.0
21,306.9
6,509.9
21,061.6
22,205.1
14,006.2
14,130.5
16,974.0
6,769.7
260,132.2
11,956.6
346,174.5
22,335.9
14,659.6
14,213.7
17,364.4
6,905.1
267,471.5
12,027.0
354,977.3
22,449.1
15,328.6
14,285.8
17,763.8
7,043.2
275,184.8
12,088.0
364,143.3
22,544.4
16,013.6
14,346.4
18,172.4
7,184.1
283,227.9
12,139.3
373,628.0
22,621.3
16,714.8
14,395.4
18,590.3
7,327.7
291,504.2
12,180.7
383,334.5
22,679.3
17,432.8
14,432.3
19,017.9
7,474.3
300,089.7
12,212.0
393,338.4
22,718.1
18,167.9
14,457.0
19,455.3
7,623.8
308,997.3
12,232.8
403,652.2
22,737.1
18,920.5
14,469.1
19,902.8
7,776.3
318,240.4
12,243.1
414,289.1
22,735.8
19,690.9
14,468.2
20,360.6
7,931.8
327,833.1
12,242.4
425,262.8
22,713.8
20,479.7
14,454.2
20,828.9
8,090.4
337,790.0
12,230.5
436,587.4
22,670.5
21,287.2
14,426.7
21,307.9
8,252.2
348,126.4
12,207.2
448,278.1
22,605.4
22,113.8
14,385.2
21,798.0
8,417.3
358,858.3
12,172.1
460,350.2
22,518.0
22,960.1
14,329.6
22,299.4
8,585.6
370,002.2
12,125.1
472,819.9
22,407.7
23,826.5
14,259.4
22,812.3
8,757.3
381,575.4
12,065.7
485,704.3
22,274.0
24,713.4
14,174.3
23,336.9
8,932.5
393,596.1
11,993.7
499,020.9
22,116.3
25,621.3
14,074.0
23,873.7
406,083.0
11,908.8
503,677.0
22,056.9
26,628.3
14,036.2
24,422.8
426,987.1
11,876.8
526,008.2
21,968.2
27,657.8
13,979.8
24,984.5
448,762.4
11,829.0
549,181.8
21,849.6
28,710.4
13,904.3
25,559.1
471,442.8
11,765.1
573,231.3
21,700.2
29,786.5
13,809.2
26,147.0
495,063.4
11,684.7
598,191.1
21,519.6
30,886.8
13,694.3
26,748.4
519,660.8
11,587.5
624,097.3
21,306.9
32,011.7
13,559.0
27,363.6
545,272.9
11,473.0
650,987.1
21,061.6
33,161.8
13,402.8
27,993.0
571,939.2
11,340.9
678,899.3
346,174.5
14,006.2
298,006.5
34,161.8
11,956.6
22,205.14
11.0%
354,977.3
14,659.6
305,954.8
34,362.9
12,027.0
22,335.87
11.0%
364,143.3
15,328.6
314,277.6
34,537.1
12,088.0
22,449.10
11.0%
373,628.0
16,013.6
322,930.8
34,683.7
12,139.3
22,544.38
11.0%
383,334.5
16,714.8
331,817.7
34,802.0
12,180.7
22,621.28
11.0%
393,338.4
17,432.8
341,014.3
34,891.3
12,212.0
22,679.34
11.0%
403,652.2
18,167.9
350,533.4
34,950.9
12,232.8
22,718.11
11.0%
414,289.1
18,920.5
360,388.5
34,980.1
12,243.1
22,737.09
11.0%
425,262.8
19,690.9
370,593.7
34,978.2
12,242.4
22,735.82
11.0%
436,587.4
20,479.7
381,163.5
34,944.3
12,230.5
22,713.78
11.0%
448,278.1
21,287.2
392,113.2
34,877.7
12,207.2
22,670.48
11.0%
460,350.2
22,113.8
403,458.8
34,777.5
12,172.1
22,605.39
11.0%
472,819.9
22,960.1
415,216.8
34,643.0
12,125.1
22,517.97
11.0%
485,704.3
23,826.5
427,404.4
34,473.4
12,065.7
22,407.68
11.0%
499,020.9
24,713.4
440,039.8
34,267.6
11,993.7
22,273.97
11.0%
503,677.0
25,621.3
444,030.7
34,025.0
11,908.8
22,116.26
11.0%
526,008.2
26,628.3
465,446.1
33,933.7
11,876.8
22,056.92
11.0%
549,181.8
27,657.8
487,726.7
33,797.3
11,829.0
21,968.23
11.0%
573,231.3
28,710.4
510,906.2
33,614.7
11,765.1
21,849.55
11.0%
598,191.1
29,786.5
535,019.6
33,385.0
11,684.7
21,700.23
11.0%
624,097.3
30,886.8
560,103.5
33,107.1
11,587.5
21,519.59
11.0%
650,987.1
32,011.7
586,195.5
32,779.9
11,473.0
21,306.95
11.0%
678,899.3
33,161.8
613,335.0
32,402.5
11,340.9
21,061.60
11.0%
$346,174.49
$86,042.27
$260,132.21
$354,977.32
$87,505.79
$267,471.54
$364,143.27
$88,958.50
$275,184.77
$373,627.99
$90,400.10
$283,227.89
$383,334.51
$91,830.27
$291,504.25
$393,338.40
$93,248.65
$300,089.75
$403,652.22
$94,654.92
$308,997.30
$414,289.11
$96,048.72
$318,240.39
$425,262.76
$97,429.69
$327,833.07
$436,587.45
$98,797.47
$337,789.98
$448,278.07
$100,151.66
$348,126.40
$460,350.16
$101,491.90
$358,858.26
$472,819.94
$102,817.78
$370,002.17
$485,704.31
$104,128.89
$381,575.43
$499,020.91
$105,424.81
$393,596.09
$503,676.99
$97,594.01
$406,082.99
$526,008.16
$99,021.03
$426,987.13
$549,181.81
$100,419.38
$448,762.43
$573,231.26
$101,788.49
$471,442.78
$598,191.12
$103,127.74
$495,063.38
$624,097.30
$104,436.51
$519,660.79
$650,987.12
$105,714.18
$545,272.94
$678,899.30
$106,960.10
$571,939.21
TRUE
4,633,028,358
4,633,028,358
TRUE
4,707,156,812
4,707,156,812
TRUE
4,782,471,321
4,782,471,321
TRUE
###
###
28,873.4
28,873.4
35%
331,848.07
1%
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
$0.0219
$0.0662
$0.0881
$0.0222
$0.0677
$0.0899
$0.0224
$0.0693
$0.0917
$0.0226
$0.0709
$0.0936
$0.0229
$0.0726
$0.0955
$0.0231
$0.0743
$0.0974
$0.0233
$0.0761
$0.0994
$0.0235
$0.0780
$0.1015
$0.0237
$0.0799
$0.1036
$0.0239
$0.0818
$0.1057
$0.0241
$0.0838
$0.1079
$0.0243
$0.0859
$0.1102
$0.0245
$0.0880
$0.1125
$0.0246
$0.0903
$0.1149
$0.0248
$0.0925
$0.1173
$0.0228
$0.0949
$0.1177
$0.0228
$0.0982
$0.1210
$0.0227
$0.1016
$0.1243
$0.0227
$0.1050
$0.1277
$0.0226
$0.1086
$0.1312
$0.0225
$0.1122
$0.1347
$0.0225
$0.1158
$0.1383
$0.0224
$0.1196
$0.1420
86,042.27
260,132.21
87,505.79
267,471.54
88,958.50
275,184.77
90,400.10
283,227.89
91,830.27
291,504.25
93,248.65
300,089.75
94,654.92
308,997.30
96,048.72
318,240.39
97,429.69
327,833.07
98,797.47
337,789.98
100,151.66
348,126.40
101,491.90
358,858.26
102,817.78
370,002.17
104,128.89
381,575.43
105,424.81
393,596.09
97,594.01
406,082.99
99,021.03
426,987.13
100,419.38
448,762.43
101,788.49
471,442.78
103,127.74
495,063.38
104,436.51
519,660.79
105,714.18
545,272.94
106,960.10
571,939.21
100%
Shareholder Incentive
Switch for Shareholder Incentive (always FALSE for no EE Case)
Program Cost for Energy Efficiency
Percent of Program Cost for Shareholder Incentive
Shareholder Incentive Regulatory Asset
6,769.70
6,905.09
7,043.20
7,184.06
7,327.74
7,474.30
7,623.78
7,776.26
7,931.78
8,090.42
8,252.23
8,417.27
8,585.62
8,757.33
8,932.48
0%
-
$0.022
$0.066
$$$$0.088
346,174.49
35%
50.00
$0.022
$0.068
$$$$0.090
354,977.32
$0.022
$0.069
$$$$0.092
364,143.27
$0.023
$0.071
$$$$0.094
373,627.99
$0.023
$0.073
$$$$0.095
383,334.51
$0.02
$0.07
$$$$0.097
393,338.40
$0.02
$0.08
$$$$0.099
403,652.22
$0.02
$0.08
$$$$0.101
414,289.11
$0.02
$0.08
$$$$0.104
425,262.76
$0.02
$0.08
$$$$0.106
436,587.45
$0.02
$0.08
$$$$0.108
448,278.07
$0.02
$0.09
$$$$0.110
460,350.16
$0.02
$0.09
$$$$0.113
472,819.94
$0.02
$0.09
$$$$0.115
485,704.31
$0.02
$0.09
$$$$0.117
499,020.91
$0.02
$0.09
$$$$0.118
503,676.99
$0.02
$0.10
$$$$0.121
526,008.16
$0.02
$0.10
$$$$0.124
549,181.81
$0.02
$0.11
$$$$0.128
573,231.26
$0.02
$0.11
$$$$0.131
598,191.12
$0.02
$0.11
$$$$0.135
624,097.30
$0.02
$0.12
$$$$0.138
650,987.12
$0.02
$0.12
$$$$0.142
678,899.30
346,174.49
312,012.7
34,161.8
11,956.6
22,205.1
11.0%
354,977.3
320,614.4
34,362.9
12,027.0
22,335.9
11.0%
364,143.3
329,606.2
34,537.1
12,088.0
22,449.1
11.0%
373,628.0
338,944.3
34,683.7
12,139.3
22,544.4
11.0%
383,334.5
348,532.5
34,802.0
12,180.7
22,621.3
11.0%
393,338.4
358,447.1
34,891.3
12,212.0
22,679.3
11.0%
403,652.2
368,701.3
34,950.9
12,232.8
22,718.1
11.0%
414,289.1
379,309.0
34,980.1
12,243.1
22,737.1
11.0%
425,262.8
390,284.6
34,978.2
12,242.4
22,735.8
11.0%
436,587.4
401,643.2
34,944.3
12,230.5
22,713.8
11.0%
448,278.1
413,400.4
34,877.7
12,207.2
22,670.5
11.0%
460,350.2
425,572.6
34,777.5
12,172.1
22,605.4
11.0%
472,819.9
438,176.9
34,643.0
12,125.1
22,518.0
11.0%
485,704.3
451,230.9
34,473.4
12,065.7
22,407.7
11.0%
499,020.9
464,753.3
34,267.6
11,993.7
22,274.0
11.0%
503,677.0
469,652.0
34,025.0
11,908.8
22,116.3
11.0%
526,008.2
492,074.4
33,933.7
11,876.8
22,056.9
11.0%
549,181.8
515,384.5
33,797.3
11,829.0
21,968.2
11.0%
573,231.3
539,616.6
33,614.7
11,765.1
21,849.6
11.0%
598,191.1
564,806.2
33,385.0
11,684.7
21,700.2
11.0%
624,097.3
590,990.2
33,107.1
11,587.5
21,519.6
11.0%
650,987.1
618,207.2
32,779.9
11,473.0
21,306.9
11.0%
678,899.3
646,496.8
32,402.5
11,340.9
21,061.6
11.0%
62,299
28,137
2.21
63,236
28,873
2.19
64,151
29,614
2.17
65,044
30,360
2.14
65,912
31,110
2.12
66,756
31,865
2.09
67,576
32,625
2.07
68,370
33,390
2.05
69,137
34,159
2.02
69,878
34,934
2.00
70,592
35,714
1.98
71,277
36,499
1.95
71,933
37,290
1.93
72,559
38,086
1.91
73,155
38,888
1.88
73,720
39,695
1.86
74,598
40,665
1.83
75,435
41,638
1.81
76,229
42,615
1.79
76,981
43,596
1.77
77,688
44,581
1.74
78,351
45,571
1.72
78,967
46,565
1.70
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
346,174
312,012.7
34,161.8
11,956.6
22,205.1
11.0%
354,977
320,614.4
34,362.9
12,027.0
22,335.9
11.0%
364,143
329,606.2
34,537.1
12,088.0
22,449.1
11.0%
373,628
338,944.3
34,683.7
12,139.3
22,544.4
11.0%
383,335
348,532.5
34,802.0
12,180.7
22,621.3
11.0%
393,338
358,447.1
34,891.3
12,212.0
22,679.3
11.0%
403,652
368,701.3
34,950.9
12,232.8
22,718.1
11.0%
414,289
379,309.0
34,980.1
12,243.1
22,737.1
11.0%
425,263
390,284.6
34,978.2
12,242.4
22,735.8
11.0%
436,587
401,643.2
34,944.3
12,230.5
22,713.8
11.0%
448,278
413,400.4
34,877.7
12,207.2
22,670.5
11.0%
460,350
425,572.6
34,777.5
12,172.1
22,605.4
11.0%
472,820
438,176.9
34,643.0
12,125.1
22,518.0
11.0%
485,704
451,230.9
34,473.4
12,065.7
22,407.7
11.0%
499,021
464,753.3
34,267.6
11,993.7
22,274.0
11.0%
503,677
469,652.0
34,025.0
11,908.8
22,116.3
11.0%
526,008
492,074.4
33,933.7
11,876.8
22,056.9
11.0%
549,182
515,384.5
33,797.3
11,829.0
21,968.2
11.0%
573,231
539,616.6
33,614.7
11,765.1
21,849.6
11.0%
598,191
564,806.2
33,385.0
11,684.7
21,700.2
11.0%
624,097
590,990.2
33,107.1
11,587.5
21,519.6
11.0%
650,987
618,207.2
32,779.9
11,473.0
21,306.9
11.0%
678,899
646,496.8
32,402.5
11,340.9
21,061.6
11.0%
1
6,769.7
1
6,905.1
1
7,043.2
1
7,184.1
1
7,327.7
1
7,474.3
1
7,623.8
1
7,776.3
1
7,931.8
1
8,090.4
1
8,252.2
1
8,417.3
1
8,585.6
1
8,757.3
1
8,932.5
6,769.7
6,905.1
7,043.2
7,184.1
7,327.7
7,474.3
7,623.8
7,776.3
7,931.8
8,090.4
8,252.2
8,417.3
8,585.6
8,757.3
8,932.5
2%
331848
2%
0%
15
75%
5,077.3
5,178.8
5,282.4
5,388.0
5,495.8
5,605.7
5,717.8
5,832.2
5,948.8
6,067.8
6,189.2
6,313.0
6,439.2
6,568.0
6,699.4
11,847.0
12,083.9
12,325.6
12,572.1
12,823.5
13,080.0
13,341.6
13,608.5
13,880.6
14,158.2
14,441.4
14,730.2
15,024.8
15,325.3
15,631.8
6769.7
6905.1
7043.2
7184.1
7327.7
7474.3
7623.8
7776.3
7931.8
8090.4
8252.2
8417.3
8585.6
8757.3
8932.5
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1.00
$20.00
1.02
$20.40
1.04
$20.81
1.06
$21.22
1.08
$21.65
1.10
$22.08
1.13
$22.52
1.15
$22.97
1.17
$23.43
1.20
$23.90
1.22
$24.38
1.24
$24.87
1.27
$25.36
1.29
$25.87
1.32
$26.39
1.35
$26.92
1.37
$27.46
1.40
$28.00
1.43
$28.56
1.46
$29.14
1.49
$29.72
1.52
$30.31
1.55
$30.92
41,992,074
41,992,074
41,992,074
83,984,149
41,992,074
125,976,223
41,992,074
167,968,298
41,992,074
209,960,372
41,992,074
251,952,446
41,992,074
293,944,521
41,992,074
335,936,595
41,992,074
377,928,669
41,992,074
419,920,744
41,992,074
461,912,818
41,992,074
503,904,893
41,992,074
545,896,967
41,992,074
587,889,041
41,992,074
629,881,116
587,889,041
545,896,967
503,904,893
461,912,818
419,920,744
377,928,669
335,936,595
20
12%
200%
956,000
4,794
9,587
9,587
19,174
14,381
28,762
19,174
38,349
23,968
47,936
28,762
57,523
33,555
67,111
38,349
76,698
43,143
86,285
47,936
95,872
52,730
105,460
57,523
115,047
62,317
124,634
67,111
134,221
71,904
143,808
67,111
134,221
62,317
124,634
57,523
115,047
52,730
105,460
47,936
95,872
43,143
86,285
38,349
76,698
971,296
986,837
1,002,626
1,018,668
1,034,967
1,051,526
1,068,351
1,085,444
1,102,811
1,120,456
1,138,384
1,156,598
1,175,103
1,193,905
1,213,008
1,232,416
1,252,134
1,272,168
1,292,523
1,313,204
1,334,215
1,355,562
0%
2.30%
19,733.33
32%
25%
956,000
971,296
986,837
1,002,626
1,018,668
1,034,967
1,051,526
1,068,351
1,085,444
1,102,811
1,120,456
1,138,384
1,156,598
1,175,103
1,193,905
1,213,008
1,232,416
1,252,134
1,272,168
1,292,523
1,313,204
1,334,215
1,355,562
20,187.20
20,651.51
21,126.49
21,612.40
22,109.48
22,618.00
23,138.22
23,670.40
24,214.82
24,771.76
25,341.51
25,924.36
26,520.62
27,130.60
27,754.60
28,392.95
29,045.99
29,714.05
30,397.47
31,096.62
31,811.84
32,543.51
33,292.01
956,000
968,899
982,043
995,436
1,009,081
1,022,983
1,037,145
1,051,573
1,066,270
1,081,240
1,096,488
1,112,019
1,127,836
1,143,945
1,160,350
1,177,055
1,198,860
1,220,976
1,243,407
1,266,158
1,289,235
1,312,644
1,336,388
13,640
6,547
0%
13,954
6,698
15,296
12,899
16%
14,275
6,852
15,541
13,144
15%
14,603
7,009
15,789
13,393
15%
14,939
7,171
16,042
13,645
15%
15,282
7,336
16,299
13,902
15%
15,634
7,504
16,559
14,163
14%
15,994
7,677
16,824
14,428
14%
16,361
7,853
17,094
14,697
14%
16,738
8,034
17,367
14,970
14%
17,123
8,219
17,645
15,248
14%
17,516
8,408
17,927
15,530
13%
17,919
8,601
18,214
15,817
13%
18,331
8,799
18,506
16,109
13%
18,753
9,001
18,802
16,405
13%
19,184
9,209
19,102
16,706
13%
19,626
9,420
19,408
21,805
-12%
20,077
9,637
19,719
22,115
-12%
20,539
9,859
20,034
22,431
-12%
21,011
10,085
20,355
22,752
-12%
21,494
10,317
20,680
23,077
-12%
21,989
10,555
21,011
23,408
-11%
22,495
10,797
21,347
23,744
-11%
$20,187.20
$19,602.00
$20,069.75
$20,548.38
$21,038.13
$21,539.27
$22,052.05
$22,576.75
$23,113.63
$23,662.98
$24,225.10
$24,800.26
$25,388.77
$25,990.95
$26,607.10
$27,237.55
$30,209.36
$30,885.43
$31,576.92
$32,284.19
$33,007.60
$33,747.51
$34,504.30
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
15
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
Annual MWh Savings (savings assumed in next calendar year after cost incurred)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
Cumulative MWh Savings
Savings Percentage on Peak
On-Peak Savings (MWh)
Off-Peak Savings (MWh)
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
-
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
-
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
-
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
-
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
-
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
-
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
-
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
-
41,992,074
-
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
83,984,149
125,976,223
167,968,298
209,960,372
251,952,446
293,944,521
335,936,595
377,928,669
419,920,744
461,912,818
503,904,893
545,896,967
587,889,041
629,881,116
587,889,041
545,896,967
503,904,893
461,912,818
419,920,744
377,928,669
335,936,595
31,494,056
10,498,019
62,988,112
20,996,037
94,482,167
31,494,056
125,976,223
41,992,074
157,470,279
52,490,093
188,964,335
62,988,112
220,458,390
73,486,130
251,952,446
83,984,149
283,446,502
94,482,167
314,940,558
104,980,186
346,434,614
115,478,205
377,928,669
125,976,223
409,422,725
136,474,242
440,916,781
146,972,260
472,410,837
157,470,279
440,916,781
146,972,260
409,422,725
136,474,242
377,928,669
125,976,223
346,434,614
115,478,205
314,940,558
104,980,186
283,446,502
94,482,167
251,952,446
83,984,149
75%
FALSE
2%
$$$-
$$$0
0
0
Emissions Rates
1.012
0.672
0.144
1.15
1.438
0.028
Off-Peak Savings
-
$$$-
$$$-
$$$-
$$$-
$$$-
$$$-
$$$-
$$$-
$$$-
$$$-
$$$-
$$$-
$$$-
$$$-
$$$-
$$$-
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
24,134,945
9,511,205
2,771,477
12,198,698
15,411,091
312,841
48,269,889
19,022,410
5,542,954
24,397,395
30,822,183
625,682
72,404,834
28,533,615
8,314,431
36,596,093
46,233,274
938,523
96,539,779
38,044,819
11,085,908
48,794,790
61,644,365
1,251,364
120,674,724
47,556,024
13,857,385
60,993,488
77,055,456
1,564,205
144,809,668
57,067,229
16,628,861
73,192,186
92,466,548
1,877,046
168,944,613
66,578,434
19,400,338
85,390,883
107,877,639
2,189,887
193,079,558
76,089,639
22,171,815
97,589,581
123,288,730
2,502,728
217,214,503
85,600,844
24,943,292
109,788,278
138,699,822
2,815,569
241,349,447
95,112,048
27,714,769
121,986,976
154,110,913
3,128,410
265,484,392
104,623,253
30,486,246
134,185,674
169,522,004
3,441,250
289,619,337
114,134,458
33,257,723
146,384,371
184,933,096
3,754,091
313,754,282
123,645,663
36,029,200
158,583,069
200,344,187
4,066,932
337,889,226
133,156,868
38,800,677
170,781,766
215,755,278
4,379,773
362,024,171
142,668,073
41,572,154
182,980,464
231,166,369
4,692,614
265,484,392
104,623,253
30,486,246
134,185,674
169,522,004
3,441,250
0
0
0
$$$-
0
0
0
289,619,337
114,134,458
33,257,723
146,384,371
184,933,096
3,754,091
0
0
0
$$$-
0
0
0
313,754,282
123,645,663
36,029,200
158,583,069
200,344,187
4,066,932
0
0
0
$$$-
0
0
0
337,889,226
133,156,868
38,800,677
170,781,766
215,755,278
4,379,773
0
0
0
$$$-
0
0
0
0
0
0
$$$-
0
0
0
241,349,447
95,112,048
27,714,769
121,986,976
154,110,913
3,128,410
0
0
0
217,214,503
85,600,844
24,943,292
109,788,278
138,699,822
2,815,569
0
0
0
193,079,558
76,089,639
22,171,815
97,589,581
123,288,730
2,502,728
Year
Year Index
2007
1
2008
2
2009
3
2010
4
2011
5
2012
6
2013
7
2014
8
2015
9
2016
10
2017
11
2018
12
2019
13
2020
14
2021
15
2022
16
2023
17
2024
18
2025
19
2026
20
2027
21
2028
22
2029
23
1
1
2007
2%
2007
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
2.00%
2
346,174.5
295,832.6
50,341.93
354,977.3
303,768.1
51,209.25
364,143.3
312,079.8
52,063.52
373,628.0
320,723.6
52,904.38
383,334.5
329,603.0
53,731.49
393,338.4
338,793.9
54,544.48
403,652.2
348,309.2
55,342.98
414,289.1
358,162.5
56,126.60
425,262.8
368,367.8
56,894.97
436,587.4
378,939.8
57,647.68
448,278.1
389,893.7
58,384.32
460,350.2
401,245.7
59,104.48
472,819.9
413,012.2
59,807.73
485,704.3
425,210.7
60,493.63
499,020.9
437,859.2
61,161.73
503,677.0
441,865.4
61,811.57
526,008.2
463,286.7
62,721.45
549,181.8
485,576.0
63,605.83
573,231.3
508,767.1
64,464.20
598,191.1
532,895.1
65,295.99
624,097.3
557,996.7
66,100.65
650,987.1
584,109.5
66,877.61
678,899.3
611,273.0
67,626.27
14,006.2
14,130.5
28,136.8
1.79
14,659.6
14,213.7
28,873.4
1.77
15,328.6
14,285.8
29,614.4
1.76
16,013.6
14,346.4
30,360.0
1.74
16,714.8
14,395.4
31,110.2
1.73
17,432.8
14,432.3
31,865.1
1.71
18,167.9
14,457.0
32,624.9
1.70
18,920.5
14,469.1
33,389.5
1.68
19,690.9
14,468.2
34,159.2
1.67
20,479.7
14,454.2
34,933.9
1.65
21,287.2
14,426.7
35,713.8
1.63
22,113.8
14,385.2
36,499.1
1.62
22,960.1
14,329.6
37,289.8
1.60
23,826.5
14,259.4
38,085.9
1.59
24,713.4
14,174.3
38,887.8
1.57
25,621.3
14,074.0
39,695.3
1.56
26,628.3
14,036.2
40,664.5
1.54
27,657.8
13,979.8
41,637.6
1.53
28,710.4
13,904.3
42,614.6
1.51
29,786.5
13,809.2
43,595.8
1.50
30,886.8
13,694.3
44,581.1
1.48
32,011.7
13,559.0
45,570.7
1.47
33,161.8
13,402.8
46,564.7
1.45
2.00
FALSE
FALSE
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
22,335.87
22,385.9
22,335.87
50.00
22,449.10
22,499.1
22,449.10
50.00
22,544.38
22,594.4
22,544.38
50.00
22,621.28
22,671.3
22,621.28
50.00
22,679.34
22,729.3
22,679.34
50.00
22,718.11
22,768.1
22,718.11
50.00
22,737.09
22,787.1
22,737.09
50.00
22,735.82
22,785.8
22,735.82
50.00
22,713.78
22,763.8
22,713.78
50.00
22,670.48
22,720.5
22,670.48
50.00
22,605.39
22,655.4
22,605.39
50.00
22,517.97
22,568.0
22,517.97
50.00
22,407.68
22,457.7
22,407.68
50.00
22,273.97
22,324.0
22,273.97
50.00
22,116.26
22,166.3
22,116.26
50.00
22,056.92
22,106.9
22,056.92
50.00
21,968.23
22,018.2
21,968.23
50.00
21,849.55
21,899.6
21,849.55
50.00
21,700.23
21,750.2
21,700.23
50.00
21,519.59
21,569.6
21,519.59
50.00
21,306.95
21,356.9
21,306.95
50.00
21,061.60
21,111.6
21,061.60
50.00
50.00
22,205.14
22,255.1
22,205.14
50.00
45.00
TRUE
TRUE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
TRUE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
1.02
1.00
###
-
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
41,992,074
1.02
1.00
###
-
1.02
1.00
###
-
1.02
1.00
###
-
1.02
1.00
###
-
1.02
1.00
4,633,028,358
-
1.02
1.00
4,707,156,812
-
1.02
1.00
4,782,471,321
-
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
41,992,074
###
###
###
###
###
4,633,028,358
4,707,156,812
4,782,471,321
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
###
###
1.02
4,633,028,358
5,396,871,020
1.02
4,707,156,812
5,483,220,956
1.02
4,782,471,321
5,570,952,492
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
###
1.06
###
5,396,871,020
1.06
5,720,683,281
5,483,220,956
1.06
5,812,214,214
5,570,952,492
1.06
5,905,209,641
1.02
62.46
1.05
63.90
1.07
65.37
1.10
66.87
1.12
68.41
1.15
69.98
1.17
71.59
1.20
73.24
1.23
74.92
1.26
76.65
1.28
78.41
1.31
80.21
1.34
82.06
1.37
83.95
1.41
85.88
1.44
87.85
1.47
89.87
1.51
91.94
1.54
94.05
1.58
96.22
1.61
98.43
1.65
100.70
1.69
103.01
62.46
###
260,132.2
260,132.2
63.90
###
270,373.1
270,373.1
65.37
###
281,017.1
281,017.1
66.87
###
292,080.2
292,080.2
68.41
###
303,578.8
303,578.8
69.98
###
315,530.1
315,530.1
71.59
###
327,951.9
327,951.9
73.24
###
340,862.7
340,862.7
74.92
###
354,281.8
354,281.8
76.65
###
368,229.2
368,229.2
78.41
###
382,725.6
382,725.6
80.21
###
397,792.8
397,792.8
82.06
###
413,453.1
413,453.1
83.95
###
429,729.9
429,729.9
85.88
###
446,647.5
446,647.5
87.85
###
464,231.1
464,231.1
89.87
###
482,507.0
482,507.0
91.94
###
501,502.3
501,502.3
94.05
###
521,245.5
521,245.5
96.22
###
541,765.9
541,765.9
98.43
5,720,683,281
563,094.1
563,094.1
100.70
5,812,214,214
585,262.0
585,262.0
103.01
5,905,209,641
608,302.6
608,302.6
956,000
46%
3,867,000,000
100%
3,867,000,000
3,867,000,000
3,867,000,000
3,867,000,000
$61.06
0%
0%
75.72
60.10
73.22
58.11
74.09
58.80
75.80
60.16
77.54
61.54
79.32
62.95
81.15
64.40
83.01
65.88
84.92
67.40
86.88
68.95
88.87
70.54
90.92
72.16
93.01
73.82
95.15
75.52
97.34
77.25
99.58
79.03
101.87
80.85
104.21
82.71
106.61
84.61
109.06
86.55
111.57
88.54
114.13
90.58
62,988,112
20,996,037
4612
1220
5,832
94,482,167
31,494,056
7000
1852
8,852
125,976,223
41,992,074
9549
2526
12,075
157,470,279
52,490,093
12210
3230
15,440
188,964,335
62,988,112
14989
3965
18,955
220,458,390
73,486,130
17890
4733
22,622
251,952,446
83,984,149
20916
5533
26,449
283,446,502
94,482,167
24071
6368
30,439
314,940,558
104,980,186
27361
7238
34,599
346,434,614
115,478,205
30789
8145
38,935
377,928,669
125,976,223
34361
9090
43,451
409,422,725
136,474,242
38080
10074
48,154
440,916,781
146,972,260
41953
11099
53,051
472,410,837
157,470,279
45983
12165
58,148
440,916,781
146,972,260
43905
11615
55,520
409,422,725
136,474,242
41706
11033
52,740
377,928,669
125,976,223
39384
10419
49,803
346,434,614
115,478,205
36932
9770
46,702
314,940,558
104,980,186
34347
9086
43,433
283,446,502
94,482,167
31623
8366
39,989
251,952,446
83,984,149
28756
7607
36,363
75.72
60.10
-
72.86
57.82
31,494,056
10,498,019
2,295
607
2,902
73.22
58.11
62,988,112
20,996,037
4,612
1,220
5,832
74.09
58.80
94,482,167
31,494,056
7,000
1,852
8,852
75.80
60.16
125,976,223
41,992,074
9,549
2,526
12,075
77.54
61.54
157,470,279
52,490,093
12,210
3,230
15,440
79.32
62.95
188,964,335
62,988,112
14,989
3,965
18,955
81.15
64.40
220,458,390
73,486,130
17,890
4,733
22,622
83.01
65.88
251,952,446
83,984,149
20,916
5,533
26,449
84.92
67.40
283,446,502
94,482,167
24,071
6,368
30,439
86.88
68.95
314,940,558
104,980,186
27,361
7,238
34,599
88.87
70.54
346,434,614
115,478,205
30,789
8,145
38,935
90.92
72.16
377,928,669
125,976,223
34,361
9,090
43,451
93.01
73.82
409,422,725
136,474,242
38,080
10,074
48,154
95.15
75.52
440,916,781
146,972,260
41,953
11,099
53,051
97.34
77.25
472,410,837
157,470,279
45,983
12,165
58,148
99.58
79.03
440,916,781
146,972,260
43,905
11,615
55,520
101.87
80.85
409,422,725
136,474,242
41,706
11,033
52,740
104.21
82.71
377,928,669
125,976,223
39,384
10,419
49,803
106.61
84.61
346,434,614
115,478,205
36,932
9,770
46,702
109.06
86.55
314,940,558
104,980,186
34,347
9,086
43,433
111.57
88.54
283,446,502
94,482,167
31,623
8,366
39,989
114.13
90.58
251,952,446
83,984,149
28,756
7,607
36,363
260,132
260,132
267,472
267,472
275,185
275,185
283,228
283,228
291,504
291,504
300,090
300,090
308,997
308,997
318,240
318,240
327,833
327,833
337,790
337,790
348,126
348,126
358,858
358,858
370,002
370,002
381,575
381,575
393,596
393,596
406,083
406,083
426,987
426,987
448,762
448,762
471,443
471,443
495,063
495,063
519,661
519,661
545,273
545,273
571,939
571,939
1.02
956,000
-
1.05
971,296
-
1.07
986,837
-
1.10
1,002,626
-
1.12
1,018,668
-
1.15
1,034,967
-
1.17
1,051,526
-
1.20
1,068,351
-
1.23
1,085,444
-
1.26
1,102,811
-
1.28
1,120,456
-
1.31
1,138,384
-
1.34
1,156,598
-
1.37
1,175,103
-
1.41
1,193,905
-
1.44
1,213,008
-
1.47
1,232,416
-
1.51
1,252,134
-
1.54
1,272,168
-
1.58
1,292,523
-
1.61
1,313,204
-
1.65
1,334,215
-
1.69
1,355,562
-
0
0
-
0%
0%
72.86
57.82
31,494,056
10,498,019
2295
607
2,902
100%
0%
260,132
260,132.2
267,472
267,472
275,185
275,185
283,228
283,228
291,504
291,504
300,090
300,090
308,997
308,997
318,240
318,240
327,833
327,833
337,790
337,790
348,126
348,126
358,858
358,858
370,002
370,002
381,575
381,575
393,596
393,596
406,083
406,083
426,987
426,987
448,762
448,762
471,443
471,443
495,063
495,063
519,661
519,661
545,273
545,273
571,939
571,939
Capital Expenditures
Line Item Capacity Capex $MM
Capital Expenditure (Growth and Other) $MM
20,187
19,602
20,070
20,548
21,038
21,539
22,052
22,577
23,114
23,663
24,225
24,800
25,389
25,991
26,607
27,238
30,209
30,885
31,577
32,284
33,008
33,748
34,504
20,187
19,602
20,070
20,548
21,038
21,539
22,052
22,577
23,114
23,663
24,225
24,800
25,389
25,991
26,607
27,238
30,209
30,885
31,577
32,284
33,008
33,748
34,504
1.02
16,974
1.05
17,364
1.07
17,764
1.10
18,172
1.12
18,590
1.15
19,018
1.17
19,455
1.20
19,903
1.23
20,361
1.26
20,829
1.28
21,308
1.31
21,798
1.34
22,299
1.37
22,812
1.41
23,337
1.44
23,874
1.47
24,423
1.51
24,985
1.54
25,559
1.58
26,147
1.61
26,748
1.65
27,364
1.69
27,993
420,187
439,789
459,859
480,407
501,445
522,985
545,037
567,614
590,727
614,390
638,615
663,415
688,804
714,795
741,402
768,640
798,849
829,735
861,312
893,596
926,603
960,351
994,855
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
5%
400,000
21,009
20,187
399,178
399,178
21,989
19,602
396,790
396,790
22,993
20,070
393,867
393,867
24,020
20,548
390,395
390,395
25,072
21,038
386,361
386,361
26,149
21,539
381,751
381,751
27,252
22,052
376,551
376,551
28,381
22,577
370,747
370,747
29,536
23,114
364,325
364,325
30,720
23,663
357,268
357,268
31,931
24,225
349,562
349,562
33,171
24,800
341,192
341,192
34,440
25,389
332,140
332,140
35,740
25,991
322,392
322,392
37,070
26,607
311,929
311,929
38,432
27,238
300,734
300,734
39,942
30,209
291,001
291,001
41,487
30,885
280,400
280,400
43,066
31,577
268,911
268,911
44,680
32,284
256,516
256,516
46,330
33,008
243,193
243,193
48,018
33,748
228,923
228,923
49,743
34,504
213,685
O&M Expenditures
O&M - yr1
O&M Cost Escalation
Total Electric O&M Expenditures
RATE BASE AND REVENUE REQUIREMENTS
Deferred Taxes - Electric Utility
Basis for Depreciation
Deferred Tax
Tax life (years)
Tax Depreciation Schedule (assumed average straight line, vs MACRS)
Beginning Tax Basis
Tax Depreciation Schedule (assumed average straight line, vs MACRS)
Capex
Ending Tax Basis
Book life (years)
Book Depreciation
Beginning Book Basis
Book Depreciation
CapEx
Ending Book Basis
Tax Rate
Annual Deferred Tax
Accumulated Deferred Income Tax (ADIT) - electric utility
Rate Base
Rate Base Assets
Depreciation Reserve
Deferred Tax Reserve
$16,592.40
400,000
20
400,000
30
400,000
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
400,000
14,006
20,187
406,181
406,181
14,660
19,602
411,123
411,123
15,329
20,070
415,864
415,864
16,014
20,548
420,399
420,399
16,715
21,038
424,723
424,723
17,433
21,539
428,829
428,829
18,168
22,052
432,713
432,713
18,920
22,577
436,369
436,369
19,691
23,114
439,792
439,792
20,480
23,663
442,975
442,975
21,287
24,225
445,913
445,913
22,114
24,800
448,600
448,600
22,960
25,389
451,028
451,028
23,827
25,991
453,193
453,193
24,713
26,607
455,087
455,087
25,621
27,238
456,703
456,703
26,628
30,209
460,284
460,284
27,658
30,885
463,511
463,511
28,710
31,577
466,378
466,378
29,787
32,284
468,876
468,876
30,887
33,008
470,996
470,996
32,012
33,748
472,732
472,732
33,162
34,504
474,075
35.00%
2,451.1
2,451.1
2,565.4
5,016.5
2,682.5
7,699.0
2,802.4
10,501.4
2,925.1
13,426.5
3,050.7
16,477.3
3,179.4
19,656.6
3,311.1
22,967.7
3,445.9
26,413.6
3,583.9
29,997.6
3,725.3
33,722.8
3,869.9
37,592.7
4,018.0
41,610.8
4,169.6
45,780.4
4,324.8
50,105.3
4,483.7
54,589.0
4,660.0
59,248.9
4,840.1
64,089.1
5,024.3
69,113.4
5,212.6
74,326.0
5,405.2
79,731.2
5,602.0
85,333.3
5,803.3
91,136.6
420187.2
14,006.2
2,451.1
439789.2
28,665.9
5,016.5
459858.9
43,994.5
7,699.0
480407.3
60,008.1
10,501.4
501445.5
76,722.9
13,426.5
522984.7
94,155.8
16,477.3
545036.8
112,323.7
19,656.6
567613.5
131,244.1
22,967.7
590727.2
150,935.0
26,413.6
614390.1
171,414.7
29,997.6
638615.2
192,701.9
33,722.8
663415.5
214,815.7
37,592.7
688804.3
237,775.8
41,610.8
714795.2
261,602.4
45,780.4
741402.3
286,315.8
50,105.3
768639.9
311,937.1
54,589.0
798849.2
338,565.4
59,248.9
829734.7
366,223.2
64,089.1
861311.6
394,933.6
69,113.4
893595.8
424,720.1
74,326.0
926603.4
455,606.9
79,731.2
960350.9
487,618.6
85,333.3
994855.2
520,780.4
91,136.6
Rate Base
Investor-owned Utility - Interest and Returns
Rate Base % Debt
Rate Base % Equity
Rate Base Debt
Rate Base Equity
Municipal - Cooperative Utility Debt Cost
Initial Debt Level
Capital Expenditures
Principal Repayment (= Depreciation)
Debt Level
403,729.9
406,106.8
408,165.4
409,897.8
411,296.0
412,351.7
413,056.5
413,401.7
413,378.5
412,977.9
412,190.6
411,007.0
409,417.6
407,412.4
404,981.3
402,113.8
401,034.9
399,422.4
397,264.6
394,549.6
391,265.2
387,399.0
382,938.1
201,864.9
201,864.9
203,053.4
203,053.4
204,082.7
204,082.7
204,948.9
204,948.9
205,648.0
205,648.0
206,175.9
206,175.9
206,528.2
206,528.2
206,700.8
206,700.8
206,689.3
206,689.3
206,488.9
206,488.9
206,095.3
206,095.3
205,503.5
205,503.5
204,708.8
204,708.8
203,706.2
203,706.2
202,490.6
202,490.6
201,056.9
201,056.9
200,517.4
200,517.4
199,711.2
199,711.2
198,632.3
198,632.3
197,274.8
197,274.8
195,632.6
195,632.6
193,699.5
193,699.5
191,469.1
191,469.1
20,187.2
14,006.2
6,431.0
19,602.0
14,659.6
11,373.3
20,069.7
15,328.6
16,114.4
20,548.4
16,013.6
20,649.2
21,038.1
16,714.8
24,972.5
21,539.3
17,432.8
29,079.0
22,052.1
18,167.9
32,963.1
22,576.7
18,920.5
36,619.4
23,113.6
19,690.9
40,042.1
23,663.0
20,479.7
43,225.5
24,225.1
21,287.2
46,163.4
24,800.3
22,113.8
48,849.8
25,388.8
22,960.1
51,278.4
25,991.0
23,826.5
53,442.9
26,607.1
24,713.4
55,336.6
27,237.6
25,621.3
56,952.8
30,209.4
26,628.3
60,533.8
30,885.4
27,657.8
63,761.4
31,576.9
28,710.4
66,628.0
32,284.2
29,786.5
69,125.6
33,007.6
30,886.8
71,246.5
33,747.5
32,011.7
72,982.3
34,504.3
33,161.8
74,324.7
201,864.9
14,130.5
203,053.4
14,213.7
204,082.7
14,285.8
204,948.9
14,346.4
205,648.0
14,395.4
206,175.9
14,432.3
206,528.2
14,457.0
206,700.8
14,469.1
206,689.3
14,468.2
206,488.9
14,454.2
206,095.3
14,426.7
205,503.5
14,385.2
204,708.8
14,329.6
203,706.2
14,259.4
202,490.6
14,174.3
201,056.9
14,074.0
200,517.4
14,036.2
199,711.2
13,979.8
198,632.3
13,904.3
197,274.8
13,809.2
195,632.6
13,694.3
193,699.5
13,559.0
191,469.1
13,402.8
201,864.9
22,205.1
203,053.4
22,335.9
204,082.7
22,449.1
204,948.9
22,544.4
205,648.0
22,621.3
206,175.9
22,679.3
206,528.2
22,718.1
206,700.8
22,737.1
206,689.3
22,735.8
206,488.9
22,713.8
206,095.3
22,670.5
205,503.5
22,605.4
204,708.8
22,518.0
203,706.2
22,407.7
202,490.6
22,274.0
201,056.9
22,116.3
200,517.4
22,056.9
199,711.2
21,968.2
198,632.3
21,849.6
197,274.8
21,700.2
195,632.6
21,519.6
193,699.5
21,306.9
191,469.1
21,061.6
11,956.6
12,027.0
12,088.0
12,139.3
12,180.7
12,212.0
12,232.8
12,243.1
12,242.4
12,230.5
12,207.2
12,172.1
12,125.1
12,065.7
11,993.7
11,908.8
11,876.8
11,829.0
11,765.1
11,684.7
11,587.5
11,473.0
11,340.9
50%
50%
250.00
7%
11.0%
35%
2
2.00
28,136.8
28,136.8
35%
Balancing Accounts
Decoupling
Actual Non-fuel Revenue Collection
Actual Fuel Revenue Collection
29,614.4
29,614.4
30,360.0
30,360.0
31,110.2
31,110.2
31,865.1
31,865.1
32,624.9
32,624.9
33,389.5
33,389.5
34,159.2
34,159.2
34,933.9
34,933.9
35,713.8
35,713.8
36,499.1
36,499.1
37,289.8
37,289.8
38,085.9
38,085.9
38,887.8
38,887.8
39,695.3
39,695.3
40,664.5
40,664.5
41,637.6
41,637.6
42,614.6
42,614.6
43,595.8
43,595.8
44,581.1
44,581.1
45,570.7
45,570.7
46,564.7
46,564.7
15,150.6
15,547.2
15,946.2
16,347.7
16,751.7
17,158.1
17,567.2
17,979.0
18,393.4
18,810.6
19,230.5
19,653.4
20,079.1
20,507.8
20,939.6
21,374.4
21,896.3
22,420.2
22,946.3
23,474.6
24,005.2
24,538.0
25,073.3
346,174.5
354,977.3
364,143.3
373,628.0
383,334.5
393,338.4
403,652.2
414,289.1
425,262.8
436,587.4
448,278.1
460,350.2
472,819.9
485,704.3
499,020.9
503,677.0
526,008.2
549,181.8
573,231.3
598,191.1
624,097.3
650,987.1
678,899.3
3,318.5
22,205.1
3,461.7
22,335.9
3,549.8
22,449.1
3,641.4
22,544.4
3,736.3
22,621.3
3,833.3
22,679.3
3,933.4
22,718.1
4,036.5
22,737.1
4,142.9
22,735.8
4,252.6
22,713.8
4,365.9
22,670.5
4,482.8
22,605.4
4,603.5
22,518.0
4,728.2
22,407.7
4,857.0
22,274.0
4,990.2
22,116.3
5,036.8
22,056.9
5,260.1
21,968.2
5,491.8
21,849.6
5,732.3
21,700.2
5,981.9
21,519.6
6,241.0
21,306.9
6,509.9
21,061.6
22,205.1
14,006.2
14,130.5
16,974.0
6,769.7
260,132.2
11,956.6
346,174.5
22,335.9
14,659.6
14,213.7
17,364.4
6,905.1
267,471.5
12,027.0
354,977.3
22,449.1
15,328.6
14,285.8
17,763.8
7,043.2
275,184.8
12,088.0
364,143.3
22,544.4
16,013.6
14,346.4
18,172.4
7,184.1
283,227.9
12,139.3
373,628.0
22,621.3
16,714.8
14,395.4
18,590.3
7,327.7
291,504.2
12,180.7
383,334.5
22,679.3
17,432.8
14,432.3
19,017.9
7,474.3
300,089.7
12,212.0
393,338.4
22,718.1
18,167.9
14,457.0
19,455.3
7,623.8
308,997.3
12,232.8
403,652.2
22,737.1
18,920.5
14,469.1
19,902.8
7,776.3
318,240.4
12,243.1
414,289.1
22,735.8
19,690.9
14,468.2
20,360.6
7,931.8
327,833.1
12,242.4
425,262.8
22,713.8
20,479.7
14,454.2
20,828.9
8,090.4
337,790.0
12,230.5
436,587.4
22,670.5
21,287.2
14,426.7
21,307.9
8,252.2
348,126.4
12,207.2
448,278.1
22,605.4
22,113.8
14,385.2
21,798.0
8,417.3
358,858.3
12,172.1
460,350.2
22,518.0
22,960.1
14,329.6
22,299.4
8,585.6
370,002.2
12,125.1
472,819.9
22,407.7
23,826.5
14,259.4
22,812.3
8,757.3
381,575.4
12,065.7
485,704.3
22,274.0
24,713.4
14,174.3
23,336.9
8,932.5
393,596.1
11,993.7
499,020.9
22,116.3
25,621.3
14,074.0
23,873.7
406,083.0
11,908.8
503,677.0
22,056.9
26,628.3
14,036.2
24,422.8
426,987.1
11,876.8
526,008.2
21,968.2
27,657.8
13,979.8
24,984.5
448,762.4
11,829.0
549,181.8
21,849.6
28,710.4
13,904.3
25,559.1
471,442.8
11,765.1
573,231.3
21,700.2
29,786.5
13,809.2
26,147.0
495,063.4
11,684.7
598,191.1
21,519.6
30,886.8
13,694.3
26,748.4
519,660.8
11,587.5
624,097.3
21,306.9
32,011.7
13,559.0
27,363.6
545,272.9
11,473.0
650,987.1
21,061.6
33,161.8
13,402.8
27,993.0
571,939.2
11,340.9
678,899.3
346,174.5
14,006.2
298,006.5
34,161.8
11,956.6
22,205.14
11.0%
354,977.3
14,659.6
305,954.8
34,362.9
12,027.0
22,335.87
11.0%
364,143.3
15,328.6
314,277.6
34,537.1
12,088.0
22,449.10
11.0%
373,628.0
16,013.6
322,930.8
34,683.7
12,139.3
22,544.38
11.0%
383,334.5
16,714.8
331,817.7
34,802.0
12,180.7
22,621.28
11.0%
393,338.4
17,432.8
341,014.3
34,891.3
12,212.0
22,679.34
11.0%
403,652.2
18,167.9
350,533.4
34,950.9
12,232.8
22,718.11
11.0%
414,289.1
18,920.5
360,388.5
34,980.1
12,243.1
22,737.09
11.0%
425,262.8
19,690.9
370,593.7
34,978.2
12,242.4
22,735.82
11.0%
436,587.4
20,479.7
381,163.5
34,944.3
12,230.5
22,713.78
11.0%
448,278.1
21,287.2
392,113.2
34,877.7
12,207.2
22,670.48
11.0%
460,350.2
22,113.8
403,458.8
34,777.5
12,172.1
22,605.39
11.0%
472,819.9
22,960.1
415,216.8
34,643.0
12,125.1
22,517.97
11.0%
485,704.3
23,826.5
427,404.4
34,473.4
12,065.7
22,407.68
11.0%
499,020.9
24,713.4
440,039.8
34,267.6
11,993.7
22,273.97
11.0%
503,677.0
25,621.3
444,030.7
34,025.0
11,908.8
22,116.26
11.0%
526,008.2
26,628.3
465,446.1
33,933.7
11,876.8
22,056.92
11.0%
549,181.8
27,657.8
487,726.7
33,797.3
11,829.0
21,968.23
11.0%
573,231.3
28,710.4
510,906.2
33,614.7
11,765.1
21,849.55
11.0%
598,191.1
29,786.5
535,019.6
33,385.0
11,684.7
21,700.23
11.0%
624,097.3
30,886.8
560,103.5
33,107.1
11,587.5
21,519.59
11.0%
650,987.1
32,011.7
586,195.5
32,779.9
11,473.0
21,306.95
11.0%
678,899.3
33,161.8
613,335.0
32,402.5
11,340.9
21,061.60
11.0%
$346,174.49
$86,042.27
$260,132.21
$354,977.32
$87,505.79
$267,471.54
$364,143.27
$88,958.50
$275,184.77
$373,627.99
$90,400.10
$283,227.89
$383,334.51
$91,830.27
$291,504.25
$393,338.40
$93,248.65
$300,089.75
$403,652.22
$94,654.92
$308,997.30
$414,289.11
$96,048.72
$318,240.39
$425,262.76
$97,429.69
$327,833.07
$436,587.45
$98,797.47
$337,789.98
$448,278.07
$100,151.66
$348,126.40
$460,350.16
$101,491.90
$358,858.26
$472,819.94
$102,817.78
$370,002.17
$485,704.31
$104,128.89
$381,575.43
$499,020.91
$105,424.81
$393,596.09
$503,676.99
$97,594.01
$406,082.99
$526,008.16
$99,021.03
$426,987.13
$549,181.81
$100,419.38
$448,762.43
$573,231.26
$101,788.49
$471,442.78
$598,191.12
$103,127.74
$495,063.38
$624,097.30
$104,436.51
$519,660.79
$650,987.12
$105,714.18
$545,272.94
$678,899.30
$106,960.10
$571,939.21
TRUE
4,633,028,358
4,633,028,358
TRUE
4,707,156,812
4,707,156,812
TRUE
4,782,471,321
4,782,471,321
TRUE
###
###
28,873.4
28,873.4
35%
331,848.07
1%
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
TRUE
###
###
$0.0219
$0.0662
$0.0881
$0.0222
$0.0677
$0.0899
$0.0224
$0.0693
$0.0917
$0.0226
$0.0709
$0.0936
$0.0229
$0.0726
$0.0955
$0.0231
$0.0743
$0.0974
$0.0233
$0.0761
$0.0994
$0.0235
$0.0780
$0.1015
$0.0237
$0.0799
$0.1036
$0.0239
$0.0818
$0.1057
$0.0241
$0.0838
$0.1079
$0.0243
$0.0859
$0.1102
$0.0245
$0.0880
$0.1125
$0.0246
$0.0903
$0.1149
$0.0248
$0.0925
$0.1173
$0.0228
$0.0949
$0.1177
$0.0228
$0.0982
$0.1210
$0.0227
$0.1016
$0.1243
$0.0227
$0.1050
$0.1277
$0.0226
$0.1086
$0.1312
$0.0225
$0.1122
$0.1347
$0.0225
$0.1158
$0.1383
$0.0224
$0.1196
$0.1420
86,042.27
260,132.21
87,505.79
267,471.54
88,958.50
275,184.77
90,400.10
283,227.89
91,830.27
291,504.25
93,248.65
300,089.75
94,654.92
308,997.30
96,048.72
318,240.39
97,429.69
327,833.07
98,797.47
337,789.98
100,151.66
348,126.40
101,491.90
358,858.26
102,817.78
370,002.17
104,128.89
381,575.43
105,424.81
393,596.09
97,594.01
406,082.99
99,021.03
426,987.13
100,419.38
448,762.43
101,788.49
471,442.78
103,127.74
495,063.38
104,436.51
519,660.79
105,714.18
545,272.94
106,960.10
571,939.21
FALSE
Shareholder Incentive
Switch for Shareholder Incentive (always FALSE for no EE Case)
Program Cost for Energy Efficiency
Percent of Program Cost for Shareholder Incentive
Shareholder Incentive Regulatory Asset
6,769.70
6,905.09
7,043.20
7,184.06
7,327.74
7,474.30
7,623.78
7,776.26
7,931.78
8,090.42
8,252.23
8,417.27
8,585.62
8,757.33
8,932.48
0%
-
$0.022
$0.066
$$$$0.088
346,174.49
35%
50.00
$0.022
$0.068
$$$$0.090
354,977.32
$0.022
$0.069
$$$$0.092
364,143.27
$0.023
$0.071
$$$$0.094
373,627.99
$0.023
$0.073
$$$$0.095
383,334.51
$0.02
$0.07
$$$$0.097
393,338.40
$0.02
$0.08
$$$$0.099
403,652.22
$0.02
$0.08
$$$$0.101
414,289.11
$0.02
$0.08
$$$$0.104
425,262.76
$0.02
$0.08
$$$$0.106
436,587.45
$0.02
$0.08
$$$$0.108
448,278.07
$0.02
$0.09
$$$$0.110
460,350.16
$0.02
$0.09
$$$$0.113
472,819.94
$0.02
$0.09
$$$$0.115
485,704.31
$0.02
$0.09
$$$$0.117
499,020.91
$0.02
$0.09
$$$$0.118
503,676.99
$0.02
$0.10
$$$$0.121
526,008.16
$0.02
$0.10
$$$$0.124
549,181.81
$0.02
$0.11
$$$$0.128
573,231.26
$0.02
$0.11
$$$$0.131
598,191.12
$0.02
$0.11
$$$$0.135
624,097.30
$0.02
$0.12
$$$$0.138
650,987.12
$0.02
$0.12
$$$$0.142
678,899.30
346,174.49
312,012.7
34,161.8
11,956.6
22,205.1
11.0%
354,977.3
320,614.4
34,362.9
12,027.0
22,335.9
11.0%
364,143.3
329,606.2
34,537.1
12,088.0
22,449.1
11.0%
373,628.0
338,944.3
34,683.7
12,139.3
22,544.4
11.0%
383,334.5
348,532.5
34,802.0
12,180.7
22,621.3
11.0%
393,338.4
358,447.1
34,891.3
12,212.0
22,679.3
11.0%
403,652.2
368,701.3
34,950.9
12,232.8
22,718.1
11.0%
414,289.1
379,309.0
34,980.1
12,243.1
22,737.1
11.0%
425,262.8
390,284.6
34,978.2
12,242.4
22,735.8
11.0%
436,587.4
401,643.2
34,944.3
12,230.5
22,713.8
11.0%
448,278.1
413,400.4
34,877.7
12,207.2
22,670.5
11.0%
460,350.2
425,572.6
34,777.5
12,172.1
22,605.4
11.0%
472,819.9
438,176.9
34,643.0
12,125.1
22,518.0
11.0%
485,704.3
451,230.9
34,473.4
12,065.7
22,407.7
11.0%
499,020.9
464,753.3
34,267.6
11,993.7
22,274.0
11.0%
503,677.0
469,652.0
34,025.0
11,908.8
22,116.3
11.0%
526,008.2
492,074.4
33,933.7
11,876.8
22,056.9
11.0%
549,181.8
515,384.5
33,797.3
11,829.0
21,968.2
11.0%
573,231.3
539,616.6
33,614.7
11,765.1
21,849.6
11.0%
598,191.1
564,806.2
33,385.0
11,684.7
21,700.2
11.0%
624,097.3
590,990.2
33,107.1
11,587.5
21,519.6
11.0%
650,987.1
618,207.2
32,779.9
11,473.0
21,306.9
11.0%
678,899.3
646,496.8
32,402.5
11,340.9
21,061.6
11.0%
62,299
28,137
2.21
63,236
28,873
2.19
64,151
29,614
2.17
65,044
30,360
2.14
65,912
31,110
2.12
66,756
31,865
2.09
67,576
32,625
2.07
68,370
33,390
2.05
69,137
34,159
2.02
69,878
34,934
2.00
70,592
35,714
1.98
71,277
36,499
1.95
71,933
37,290
1.93
72,559
38,086
1.91
73,155
38,888
1.88
73,720
39,695
1.86
74,598
40,665
1.83
75,435
41,638
1.81
76,229
42,615
1.79
76,981
43,596
1.77
77,688
44,581
1.74
78,351
45,571
1.72
78,967
46,565
1.70
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
346,174
312,012.7
34,161.8
11,956.6
22,205.1
11.0%
354,977
320,614.4
34,362.9
12,027.0
22,335.9
11.0%
364,143
329,606.2
34,537.1
12,088.0
22,449.1
11.0%
373,628
338,944.3
34,683.7
12,139.3
22,544.4
11.0%
383,335
348,532.5
34,802.0
12,180.7
22,621.3
11.0%
393,338
358,447.1
34,891.3
12,212.0
22,679.3
11.0%
403,652
368,701.3
34,950.9
12,232.8
22,718.1
11.0%
414,289
379,309.0
34,980.1
12,243.1
22,737.1
11.0%
425,263
390,284.6
34,978.2
12,242.4
22,735.8
11.0%
436,587
401,643.2
34,944.3
12,230.5
22,713.8
11.0%
448,278
413,400.4
34,877.7
12,207.2
22,670.5
11.0%
460,350
425,572.6
34,777.5
12,172.1
22,605.4
11.0%
472,820
438,176.9
34,643.0
12,125.1
22,518.0
11.0%
485,704
451,230.9
34,473.4
12,065.7
22,407.7
11.0%
499,021
464,753.3
34,267.6
11,993.7
22,274.0
11.0%
503,677
469,652.0
34,025.0
11,908.8
22,116.3
11.0%
526,008
492,074.4
33,933.7
11,876.8
22,056.9
11.0%
549,182
515,384.5
33,797.3
11,829.0
21,968.2
11.0%
573,231
539,616.6
33,614.7
11,765.1
21,849.6
11.0%
598,191
564,806.2
33,385.0
11,684.7
21,700.2
11.0%
624,097
590,990.2
33,107.1
11,587.5
21,519.6
11.0%
650,987
618,207.2
32,779.9
11,473.0
21,306.9
11.0%
678,899
646,496.8
32,402.5
11,340.9
21,061.6
11.0%
1
6,769.7
1
6,905.1
1
7,043.2
1
7,184.1
1
7,327.7
1
7,474.3
1
7,623.8
1
7,776.3
1
7,931.8
1
8,090.4
1
8,252.2
1
8,417.3
1
8,585.6
1
8,757.3
1
8,932.5
6,769.7
6,905.1
7,043.2
7,184.1
7,327.7
7,474.3
7,623.8
7,776.3
7,931.8
8,090.4
8,252.2
8,417.3
8,585.6
8,757.3
8,932.5
2%
331848
2%
0%
15
75%
5,077.3
5,178.8
5,282.4
5,388.0
5,495.8
5,605.7
5,717.8
5,832.2
5,948.8
6,067.8
6,189.2
6,313.0
6,439.2
6,568.0
6,699.4
11,847.0
12,083.9
12,325.6
12,572.1
12,823.5
13,080.0
13,341.6
13,608.5
13,880.6
14,158.2
14,441.4
14,730.2
15,024.8
15,325.3
15,631.8
6769.7
6905.1
7043.2
7184.1
7327.7
7474.3
7623.8
7776.3
7931.8
8090.4
8252.2
8417.3
8585.6
8757.3
8932.5
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1.00
$20.00
1.02
$20.40
1.04
$20.81
1.06
$21.22
1.08
$21.65
1.10
$22.08
1.13
$22.52
1.15
$22.97
1.17
$23.43
1.20
$23.90
1.22
$24.38
1.24
$24.87
1.27
$25.36
1.29
$25.87
1.32
$26.39
1.35
$26.92
1.37
$27.46
1.40
$28.00
1.43
$28.56
1.46
$29.14
1.49
$29.72
1.52
$30.31
1.55
$30.92
41,992,074
41,992,074
41,992,074
83,984,149
41,992,074
125,976,223
41,992,074
167,968,298
41,992,074
209,960,372
41,992,074
251,952,446
41,992,074
293,944,521
41,992,074
335,936,595
41,992,074
377,928,669
41,992,074
419,920,744
41,992,074
461,912,818
41,992,074
503,904,893
41,992,074
545,896,967
41,992,074
587,889,041
41,992,074
629,881,116
587,889,041
545,896,967
503,904,893
461,912,818
419,920,744
377,928,669
335,936,595
20
12%
200%
956,000
4,794
9,587
9,587
19,174
14,381
28,762
19,174
38,349
23,968
47,936
28,762
57,523
33,555
67,111
38,349
76,698
43,143
86,285
47,936
95,872
52,730
105,460
57,523
115,047
62,317
124,634
67,111
134,221
71,904
143,808
67,111
134,221
62,317
124,634
57,523
115,047
52,730
105,460
47,936
95,872
43,143
86,285
38,349
76,698
971,296
986,837
1,002,626
1,018,668
1,034,967
1,051,526
1,068,351
1,085,444
1,102,811
1,120,456
1,138,384
1,156,598
1,175,103
1,193,905
1,213,008
1,232,416
1,252,134
1,272,168
1,292,523
1,313,204
1,334,215
1,355,562
0%
2.30%
19,733.33
32%
25%
956,000
971,296
986,837
1,002,626
1,018,668
1,034,967
1,051,526
1,068,351
1,085,444
1,102,811
1,120,456
1,138,384
1,156,598
1,175,103
1,193,905
1,213,008
1,232,416
1,252,134
1,272,168
1,292,523
1,313,204
1,334,215
1,355,562
20,187.20
20,651.51
21,126.49
21,612.40
22,109.48
22,618.00
23,138.22
23,670.40
24,214.82
24,771.76
25,341.51
25,924.36
26,520.62
27,130.60
27,754.60
28,392.95
29,045.99
29,714.05
30,397.47
31,096.62
31,811.84
32,543.51
33,292.01
956,000
968,899
982,043
995,436
1,009,081
1,022,983
1,037,145
1,051,573
1,066,270
1,081,240
1,096,488
1,112,019
1,127,836
1,143,945
1,160,350
1,177,055
1,198,860
1,220,976
1,243,407
1,266,158
1,289,235
1,312,644
1,336,388
13,640
6,547
0%
13,954
6,698
15,296
12,899
16%
14,275
6,852
15,541
13,144
15%
14,603
7,009
15,789
13,393
15%
14,939
7,171
16,042
13,645
15%
15,282
7,336
16,299
13,902
15%
15,634
7,504
16,559
14,163
14%
15,994
7,677
16,824
14,428
14%
16,361
7,853
17,094
14,697
14%
16,738
8,034
17,367
14,970
14%
17,123
8,219
17,645
15,248
14%
17,516
8,408
17,927
15,530
13%
17,919
8,601
18,214
15,817
13%
18,331
8,799
18,506
16,109
13%
18,753
9,001
18,802
16,405
13%
19,184
9,209
19,102
16,706
13%
19,626
9,420
19,408
21,805
-12%
20,077
9,637
19,719
22,115
-12%
20,539
9,859
20,034
22,431
-12%
21,011
10,085
20,355
22,752
-12%
21,494
10,317
20,680
23,077
-12%
21,989
10,555
21,011
23,408
-11%
22,495
10,797
21,347
23,744
-11%
$20,187.20
$19,602.00
$20,069.75
$20,548.38
$21,038.13
$21,539.27
$22,052.05
$22,576.75
$23,113.63
$23,662.98
$24,225.10
$24,800.26
$25,388.77
$25,990.95
$26,607.10
$27,237.55
$30,209.36
$30,885.43
$31,576.92
$32,284.19
$33,007.60
$33,747.51
$34,504.30
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
15
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
Annual MWh Savings (savings assumed in next calendar year after cost incurred)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
Cumulative MWh Savings
Savings Percentage on Peak
On-Peak Savings (MWh)
Off-Peak Savings (MWh)
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
-
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
-
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
-
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
-
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
-
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
-
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
-
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
-
41,992,074
-
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
41,992,074
-
41,992,074
83,984,149
125,976,223
167,968,298
209,960,372
251,952,446
293,944,521
335,936,595
377,928,669
419,920,744
461,912,818
503,904,893
545,896,967
587,889,041
629,881,116
587,889,041
545,896,967
503,904,893
461,912,818
419,920,744
377,928,669
335,936,595
31,494,056
10,498,019
62,988,112
20,996,037
94,482,167
31,494,056
125,976,223
41,992,074
157,470,279
52,490,093
188,964,335
62,988,112
220,458,390
73,486,130
251,952,446
83,984,149
283,446,502
94,482,167
314,940,558
104,980,186
346,434,614
115,478,205
377,928,669
125,976,223
409,422,725
136,474,242
440,916,781
146,972,260
472,410,837
157,470,279
440,916,781
146,972,260
409,422,725
136,474,242
377,928,669
125,976,223
346,434,614
115,478,205
314,940,558
104,980,186
283,446,502
94,482,167
251,952,446
83,984,149
75%
FALSE
2%
$$$-
$$$0
0
0
Emissions Rates
1.012
0.672
0.144
1.15
1.438
0.028
Off-Peak Savings
-
$$$-
$$$-
$$$-
$$$-
$$$-
$$$-
$$$-
$$$-
$$$-
$$$-
$$$-
$$$-
$$$-
$$$-
$$$-
$$$-
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
31,494,056
10,498,019
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
13,510,950
2,456,536
1,259,762
125,976
314,941
18,896
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
10,623,995
7,054,668
1,511,715
12,072,721
15,096,151
293,945
24,134,945
9,511,205
2,771,477
12,198,698
15,411,091
312,841
48,269,889
19,022,410
5,542,954
24,397,395
30,822,183
625,682
72,404,834
28,533,615
8,314,431
36,596,093
46,233,274
938,523
96,539,779
38,044,819
11,085,908
48,794,790
61,644,365
1,251,364
120,674,724
47,556,024
13,857,385
60,993,488
77,055,456
1,564,205
144,809,668
57,067,229
16,628,861
73,192,186
92,466,548
1,877,046
168,944,613
66,578,434
19,400,338
85,390,883
107,877,639
2,189,887
193,079,558
76,089,639
22,171,815
97,589,581
123,288,730
2,502,728
217,214,503
85,600,844
24,943,292
109,788,278
138,699,822
2,815,569
241,349,447
95,112,048
27,714,769
121,986,976
154,110,913
3,128,410
265,484,392
104,623,253
30,486,246
134,185,674
169,522,004
3,441,250
289,619,337
114,134,458
33,257,723
146,384,371
184,933,096
3,754,091
313,754,282
123,645,663
36,029,200
158,583,069
200,344,187
4,066,932
337,889,226
133,156,868
38,800,677
170,781,766
215,755,278
4,379,773
362,024,171
142,668,073
41,572,154
182,980,464
231,166,369
4,692,614
265,484,392
104,623,253
30,486,246
134,185,674
169,522,004
3,441,250
0
0
0
$$$-
0
0
0
289,619,337
114,134,458
33,257,723
146,384,371
184,933,096
3,754,091
0
0
0
$$$-
0
0
0
313,754,282
123,645,663
36,029,200
158,583,069
200,344,187
4,066,932
0
0
0
$$$-
0
0
0
337,889,226
133,156,868
38,800,677
170,781,766
215,755,278
4,379,773
0
0
0
$$$-
0
0
0
0
0
0
$$$-
0
0
0
241,349,447
95,112,048
27,714,769
121,986,976
154,110,913
3,128,410
0
0
0
217,214,503
85,600,844
24,943,292
109,788,278
138,699,822
2,815,569
0
0
0
193,079,558
76,089,639
22,171,815
97,589,581
123,288,730
2,502,728
Year
Year Index
2007
1
2008
2
2009
3
2010
4
2011
5
2012
6
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
185,878.4
126,831.8
59,046.58
190,726.0
130,376.9
60,349.08
195,675.0
134,017.4
61,657.63
200,728.3
137,756.0
62,972.37
205,889.1
141,595.6
64,293.44
211,160.4
145,539.4
65,620.99
10,956.9
18,701.6
29,658.4
1.99
11,424.3
19,026.3
30,450.6
1.98
11,902.4
19,349.3
31,251.6
1.97
12,391.5
19,670.3
32,061.8
1.96
12,891.9
19,989.5
32,881.4
1.96
13,403.8
20,306.7
33,710.5
1.95
FALSE
FALSE
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
29,388.16
29,438.2
29,388.16
50.00
29,898.51
29,948.5
29,898.51
50.00
30,405.98
30,456.0
30,405.98
50.00
30,910.52
30,960.5
30,910.52
50.00
31,412.06
31,462.1
31,412.06
50.00
31,910.52
31,960.5
31,910.52
50.00
TRUE
TRUE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
TRUE
FALSE
FALSE
FALSE
FALSE
FALSE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
101%
1.00
22,340,481
-
101%
1.00
22,496,865
-
101%
1.00
22,654,343
-
101%
1.00
22,812,923
-
101%
1.00
22,972,614
-
101%
1.00
23,133,422
-
22,340,481
22,496,865
22,654,343
22,812,923
22,972,614
23,133,422
1.01
22,340,481
22,340,481
1.01
22,496,865
22,496,865
1.01
22,654,343
22,654,343
1.01
22,812,923
22,812,923
1.01
22,972,614
22,972,614
1.01
23,133,422
23,133,422
22,340,481
105%
23,457,505
22,496,865
105%
23,621,708
22,654,343
105%
23,787,060
22,812,923
105%
23,953,569
22,972,614
105%
24,121,244
23,133,422
105%
24,290,093
1.02
1.05
1.07
1.10
1.12
1.15
4,269.36
4,367.56
4,468.01
4,570.77
4,675.90
4,783.45
4,269.36
4,367.56
4,468.01
4,570.77
4,675.90
4,783.45
1
1
2007
2%
2007
2.00%
2.00
50.00
45.00
121,479
50%
22,185,185
100%
22,185,185
22,185,185
22,185,185
22,185,185
$4.05
1031
0%
23,457,505
100,148.6
100,148.6
23,621,708
103,169.1
103,169.1
23,787,060
106,280.8
106,280.8
23,953,569
109,486.4
109,486.4
24,121,244
112,788.6
112,788.6
24,290,093
116,190.4
116,190.4
10.67
8.47
10.22
8.11
9.69
7.69
9.19
7.29
8.72
6.92
8.93
7.08
100%
-
0
0
0
0
-
0
0
0
0
0
0
0
0
0%
10.67
8.47
-
10.22
8.11
-
9.69
7.69
-
9.19
7.29
-
8.72
6.92
-
8.93
7.08
-
100,149
100,149
103,169
103,169
106,281
106,281
109,486
109,486
112,789
112,789
116,190
116,190
1.02
121,479
-
1.05
122,329
-
1.07
123,186
-
1.10
124,048
-
1.12
124,916
-
1.15
125,791
-
100,148.6
100,148.6
103,169.1
103,169.1
106,280.8
106,280.8
109,486.4
109,486.4
112,788.6
112,788.6
116,190.4
116,190.4
Capital Expenditures
Line Item Capacity Capex $MM
Capital Expenditure (Growth and Other) $MM
22,844
23,369
23,906
24,456
25,019
25,594
22,844
23,369
23,906
24,456
25,019
25,594
1.02
10,859
1.05
11,109
1.07
11,364
1.10
11,625
1.12
11,893
1.15
12,166
547,843.6
571,212.6
595,119.1
619,575.4
644,594.2
670,188.5
3%
3%
3%
3%
3%
3%
525,000.0
18,261.5
22,843.6
529,582.1
529,582.1
19,040.4
23,369.0
533,910.7
533,910.7
19,837.3
23,906.5
537,979.9
537,979.9
20,652.5
24,456.3
541,783.7
541,783.7
21,486.5
25,018.8
545,316.1
545,316.1
22,339.6
25,594.3
548,570.7
0%
O&M Expenditures
O&M - yr1
O&M Cost Escalation
Total Gas O&M Expenditures
RATE BASE AND REVENUE REQUIREMENTS
Deferred Taxes - Gas Utility
Basis for Depreciation
Deferred Tax
Tax life (years)
Tax Depreciation Schedule (assumed average straight line, vs MACRS)
Beginning Tax Basis
Tax Depreciation Schedule (assumed average straight line, vs MACRS)
Capex
Ending Tax Basis
Book life (years)
Book Depreciation
Beginning Book Basis
Book Depreciation
CapEx
Ending Book Basis
Tax Rate
Annual Deferred Tax
Accumulated Deferred Income Tax (ADIT) - Gas utility
$10,614.71
525,000
30
525,000
50
525,000
2%
2%
2%
2%
2%
536,886.7
11,424.3
23,369.0
548,831.5
548,831.5
11,902.4
23,906.5
560,835.6
560,835.6
12,391.5
24,456.3
572,900.4
572,900.4
12,891.9
25,018.8
585,027.3
585,027.3
13,403.8
25,594.3
597,217.8
2,556.6
2,556.6
2,665.7
5,222.3
2,777.2
7,999.5
2,891.4
10,890.8
3,008.1
13,898.9
3,127.5
17,026.5
595119.1
34,283.5
7,999.5
552,836.1
619575.4
46,675.0
10,890.8
562,009.5
644594.2
59,566.9
13,898.9
571,128.4
670188.5
72,970.7
17,026.5
580,191.3
35.00%
Rate Base
Rate Base Assets
Depreciation Reserve
Deferred Tax Reserve
Rate Base
Investor-owned Utility - Interest and Returns
Rate Base % Debt
Rate Base % Equity
2%
525,000.0
10,956.9
22,843.6
536,886.7
547843.6
10,956.9
2,556.6
534,330.1
50%
50%
571212.6
22,381.1
5,222.3
543,609.2
267,165.1
267,165.1
271,804.6
271,804.6
276,418.0
276,418.0
281,004.8
281,004.8
285,564.2
285,564.2
290,095.7
290,095.7
22,843.6
10,956.9
12,161.7
23,369.0
11,424.3
24,106.5
23,906.5
11,902.4
36,110.6
24,456.3
12,391.5
48,175.4
25,018.8
12,891.9
60,302.3
25,594.3
13,403.8
72,492.8
267,165.1
18,701.6
271,804.6
19,026.3
276,418.0
19,349.3
281,004.8
19,670.3
285,564.2
19,989.5
290,095.7
20,306.7
267,165.1
29,388.2
271,804.6
29,898.5
276,418.0
30,406.0
281,004.8
30,910.5
285,564.2
31,412.1
290,095.7
31,910.5
15,824.4
16,099.2
16,372.5
16,644.1
16,914.2
17,182.6
29,658.4
35,590.1
30,450.6
36,540.7
31,251.6
37,502.0
32,061.8
38,474.2
32,881.4
39,457.7
33,710.5
40,452.6
19,163.9
19,675.8
20,193.4
20,716.9
21,246.4
21,782.1
185,878.4
190,726.0
195,675.0
200,728.3
205,889.1
211,160.4
3,184.4
29,388.2
2,788.2
29,898.5
2,860.9
30,406.0
2,935.1
30,910.5
3,010.9
31,412.1
3,088.3
31,910.5
29,388.2
10,956.9
18,701.6
10,858.8
100,148.6
15,824.4
185,878.4
29,898.5
11,424.3
19,026.3
11,108.6
103,169.1
16,099.2
190,726.0
30,406.0
11,902.4
19,349.3
11,364.1
106,280.8
16,372.5
195,675.0
30,910.5
12,391.5
19,670.3
11,625.5
109,486.4
16,644.1
200,728.3
31,412.1
12,891.9
19,989.5
11,892.9
112,788.6
16,914.2
205,889.1
31,910.5
13,403.8
20,306.7
12,166.4
116,190.4
17,182.6
211,160.4
185,878.4
10,956.9
129,709.0
45,212.5
15,824.4
29,388.16
11.0%
190,726.0
11,424.3
133,304.1
45,997.7
16,099.2
29,898.51
11.0%
195,675.0
11,902.4
136,994.2
46,778.4
16,372.5
30,405.98
11.0%
200,728.3
12,391.5
140,782.2
47,554.7
16,644.1
30,910.52
11.0%
205,889.1
12,891.9
144,670.9
48,326.2
16,914.2
31,412.06
11.0%
211,160.4
13,403.8
148,663.5
49,093.1
17,182.6
31,910.52
11.0%
$185,878.38
$85,729.82
$100,148.56
$190,726.01
$87,556.87
$103,169.14
$195,675.00
$89,394.18
$106,280.82
$200,728.33
$91,241.97
$109,486.36
$205,889.06
$93,100.48
$112,788.58
$211,160.36
$94,969.97
$116,190.39
TRUE
22,340,481
22,340,481
TRUE
22,496,865
22,496,865
TRUE
22,654,343
22,654,343
TRUE
22,812,923
22,812,923
TRUE
22,972,614
22,972,614
TRUE
23,133,422
23,133,422
$0.3722
$0.4348
$0.8070
$0.3775
$0.4448
$0.8223
$0.3827
$0.4550
$0.8378
$0.3879
$0.4655
$0.8534
$0.3931
$0.4762
$0.8693
$0.3982
$0.4872
$0.8853
85,729.82
100,148.56
87,556.87
103,169.14
89,394.18
106,280.82
91,241.97
109,486.36
93,100.48
112,788.58
94,969.97
116,190.39
275.00
7%
11.0%
35.00%
2
2.20
35%
Revenue
Percent of Revenue for Payment in Lieu of Tax
Cash Contribution Target
Return on Ratebase/Public Utility Payment in Lieu of Tax (PiLoT)
212,294.16
1.5%
35%
$0.93
$0.4284
$0.5004
10,310
100%
0%
$0.372
$0.435
$0.377
$0.445
$0.383
$0.455
$0.388
$0.466
$0.393
$0.476
$0.40
$0.49
$$$$0.807
185,878.38
35%
50.00
$$$$0.822
190,726.01
$$$$0.838
195,675.00
$$$$0.853
200,728.33
$$$$0.869
205,889.06
$$$$0.885
211,160.36
185,878.38
140,665.8
45,212.5
15,824.4
29,388.2
11.0%
190,726.0
144,728.3
45,997.7
16,099.2
29,898.5
11.0%
195,675.0
148,896.6
46,778.4
16,372.5
30,406.0
11.0%
200,728.3
153,173.7
47,554.7
16,644.1
30,910.5
11.0%
205,889.1
157,562.8
48,326.2
16,914.2
31,412.1
11.0%
211,160.4
162,067.3
49,093.1
17,182.6
31,910.5
11.0%
71,687
29,658
2.42
73,660
30,451
2.42
75,169
31,252
2.41
76,681
32,062
2.39
78,197
32,881
2.38
79,715
33,710
2.36
26,253.74
53,364.07
80,909.17
108,884.57
137,285.70
166,107.89
185,878
190,726
195,675
200,728
205,889
211,160
Year
Year Index
2007
1
2008
2
2009
3
2010
4
2011
5
2012
6
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
186,961.1
127,914.5
59,046.58
190,931.2
130,620.1
60,311.07
195,091.7
133,509.9
61,581.80
199,438.7
136,579.9
62,858.89
203,964.2
139,821.7
64,142.51
208,401.9
142,969.2
65,432.78
10,956.9
18,701.6
29,658.4
1.99
11,417.2
19,014.3
30,431.5
1.98
11,888.2
19,325.3
31,213.5
1.97
12,370.0
19,634.6
32,004.6
1.96
12,863.0
19,942.0
32,805.0
1.96
13,367.4
20,247.7
33,615.0
1.95
FALSE
FALSE
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
29,388.16
29,438.2
29,388.16
50.00
29,879.59
29,929.6
29,879.59
50.00
30,368.33
30,418.3
30,368.33
50.00
30,854.32
30,904.3
30,854.32
50.00
31,337.48
31,387.5
31,337.48
50.00
31,817.75
31,867.8
31,817.75
50.00
TRUE
TRUE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
TRUE
FALSE
FALSE
FALSE
FALSE
FALSE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
101%
1.00
22,340,481
-
101%
1.00
22,496,865
85,150
101%
1.00
22,568,596
85,150
101%
1.00
22,640,830
85,150
101%
1.00
22,713,570
85,150
101%
1.00
22,786,818
85,150
22,340,481
85,150
22,411,714
85,150
22,483,446
85,150
22,555,680
85,150
22,628,419
85,150
22,701,668
1.01
22,340,481
22,340,481
1.01
22,411,714
22,496,865
1.01
22,483,446
22,654,343
1.01
22,555,680
22,812,923
1.01
22,628,419
22,972,614
1.01
22,701,668
23,133,422
22,340,481
105%
23,457,505
22,496,865
105%
23,621,708
22,654,343
105%
23,787,060
22,812,923
105%
23,953,569
22,972,614
105%
24,121,244
23,133,422
105%
24,290,093
1.02
1.05
1.07
1.10
1.12
1.15
4,269.36
4,367.56
4,468.01
4,570.77
4,675.90
4,783.45
1
1
2007
2%
2007
2.00%
2.00
50.00
45.00
121,479
50%
22,185,185
100%
22,185,185
22,185,185
22,185,185
22,185,185
$4.05
1031
0%
0%
4,269.36
4,367.56
4,468.01
4,570.77
4,675.90
4,783.45
23,457,505
100,148.6
100,148.6
23,621,708
103,169.1
103,169.1
23,787,060
106,280.8
106,280.8
23,953,569
109,486.4
109,486.4
24,121,244
112,788.6
112,788.6
24,290,093
116,190.4
116,190.4
10.67
8.47
10.22
8.11
9.69
7.69
9.19
7.29
8.72
6.92
8.93
7.08
63,862.70
21,287.57
673
178
851
127,725.40
42,575.13
1276
338
1,614
191,588.09
63,862.70
1815
480
2,295
255,450.79
85,150.26
2298
608
2,906
319,313.49
106,437.83
2938
777
3,716
10.67
8.47
-
10.22
8.11
63,862.7
21,287.6
673
178
851
9.69
7.69
127,725.4
42,575.1
1,276
338
1,614
9.19
7.29
191,588.1
63,862.7
1,815
480
2,295
8.72
6.92
255,450.8
85,150.3
2,298
608
2,906
8.93
7.08
319,313.5
106,437.8
2,938
777
3,716
100,149
100,149
102,318
102,318
104,667
104,667
107,192
107,192
109,883
109,883
112,475
112,475
1.02
121,479
-
1.05
122,329
-
1.07
123,186
-
1.10
124,048
-
1.12
124,916
-
1.15
125,791
-
100,148.6
100,148.6
102,318.2
102,318.2
104,667.2
104,667.2
107,191.5
107,191.5
109,882.9
109,882.9
112,474.7
112,474.7
Capital Expenditures
Line Item Capacity Capex $MM
Capital Expenditure (Growth and Other) $MM
22,844
23,016
23,548
24,092
24,649
25,219
22,844
23,016
23,548
24,092
24,649
25,219
1.02
10,859
1.05
11,109
1.07
11,364
1.10
11,625
1.12
11,893
1.15
12,166
547,843.6
570,860.0
594,408.2
618,500.7
643,149.8
668,368.5
3%
3%
3%
3%
3%
3%
525,000.0
18,261.5
22,843.6
529,582.1
529,582.1
19,028.7
23,016.4
533,569.9
533,569.9
19,813.6
23,548.3
537,304.5
537,304.5
20,616.7
24,092.4
540,780.2
540,780.2
21,438.3
24,649.1
543,991.1
543,991.1
22,278.9
25,218.7
546,930.8
2%
2%
2%
2%
2%
2%
525,000.0
10,956.9
22,843.6
536,886.7
536,886.7
11,417.2
23,016.4
548,485.9
548,485.9
11,888.2
23,548.3
560,146.0
560,146.0
12,370.0
24,092.4
571,868.4
571,868.4
12,863.0
24,649.1
583,654.6
583,654.6
13,367.4
25,218.7
595,505.9
2,556.6
2,556.6
2,664.0
5,220.6
2,773.9
7,994.5
2,886.3
10,880.9
3,001.4
13,882.2
3,119.1
17,001.3
594408.2
34,262.2
7,994.5
552,151.5
618500.7
46,632.2
10,880.9
560,987.6
643149.8
59,495.2
13,882.2
569,772.3
668368.5
72,862.6
17,001.3
578,504.6
100%
0
0
-
0%
0%
0%
O&M Expenditures
O&M - yr1
O&M Cost Escalation
Total Gas O&M Expenditures
RATE BASE AND REVENUE REQUIREMENTS
Deferred Taxes - Gas Utility
Basis for Depreciation
Deferred Tax
Tax life (years)
Tax Depreciation Schedule (assumed average straight line, vs MACRS)
Beginning Tax Basis
Tax Depreciation Schedule (assumed average straight line, vs MACRS)
Capex
Ending Tax Basis
Book life (years)
Book Depreciation
Beginning Book Basis
Book Depreciation
CapEx
Ending Book Basis
Tax Rate
Annual Deferred Tax
Accumulated Deferred Income Tax (ADIT) - Gas utility
Rate Base
Rate Base Assets
Depreciation Reserve
Deferred Tax Reserve
Rate Base
$10,614.71
525,000
30
525,000
50
525,000
35.00%
547843.6
10,956.9
2,556.6
534,330.1
570860.0
22,374.1
5,220.6
543,265.3
50%
50%
267,165.1
267,165.1
271,632.6
271,632.6
276,075.7
276,075.7
280,493.8
280,493.8
284,886.2
284,886.2
289,252.3
289,252.3
22,843.6
10,956.9
12,161.7
23,016.4
11,417.2
23,760.9
23,548.3
11,888.2
35,421.0
24,092.4
12,370.0
47,143.4
24,649.1
12,863.0
58,929.6
25,218.7
13,367.4
70,780.9
267,165.1
18,701.6
271,632.6
19,014.3
276,075.7
19,325.3
280,493.8
19,634.6
284,886.2
19,942.0
289,252.3
20,247.7
267,165.1
29,388.2
271,632.6
29,879.6
276,075.7
30,368.3
280,493.8
30,854.3
284,886.2
31,337.5
289,252.3
31,817.8
15,824.4
16,089.0
16,352.2
16,613.9
16,874.0
17,132.6
29,658.4
35,590.1
30,431.5
36,517.8
31,213.5
37,456.2
32,004.6
38,405.5
32,805.0
39,366.0
33,615.0
40,338.0
19,163.9
19,663.4
20,168.7
20,679.9
21,197.1
21,720.5
186,961.1
190,931.2
195,091.7
199,438.7
203,964.2
208,401.9
3,184.4
29,388.2
2,804.4
29,879.6
2,864.0
30,368.3
2,926.4
30,854.3
2,991.6
31,337.5
3,059.5
31,817.8
29,388.2
10,956.9
18,701.6
10,858.8
1,082.7
100,148.6
15,824.4
186,961.1
29,879.6
11,417.2
19,014.3
11,108.6
1,104.4
102,318.2
16,089.0
190,931.2
30,368.3
11,888.2
19,325.3
11,364.1
1,126.4
104,667.2
16,352.2
195,091.7
30,854.3
12,370.0
19,634.6
11,625.5
1,149.0
107,191.5
16,613.9
199,438.7
31,337.5
12,863.0
19,942.0
11,892.9
1,171.9
109,882.9
16,874.0
203,964.2
31,817.8
13,367.4
20,247.7
12,166.4
1,195.4
112,474.7
17,132.6
208,401.9
186,961.1
10,956.9
130,791.7
45,212.5
15,824.4
29,388.16
11.0%
190,931.2
11,417.2
133,545.4
45,968.6
16,089.0
29,879.59
11.0%
195,091.7
11,888.2
136,483.0
46,720.5
16,352.2
30,368.33
11.0%
199,438.7
12,370.0
139,600.6
47,468.2
16,613.9
30,854.32
11.0%
203,964.2
12,863.0
142,889.7
48,211.5
16,874.0
31,337.48
11.0%
208,401.9
13,367.4
146,084.2
48,950.4
17,132.6
31,817.75
11.0%
$186,961.08
$86,812.52
$100,148.56
$190,931.20
$88,613.04
$102,318.16
$195,091.69
$90,424.52
$104,667.17
$199,438.75
$92,247.20
$107,191.55
$203,964.23
$94,081.34
$109,882.89
$208,401.94
$95,927.20
$112,474.74
TRUE
22,340,481
22,340,481
TRUE
22,411,714
22,411,714
TRUE
22,483,446
22,483,446
TRUE
22,555,680
22,555,680
TRUE
22,628,419
22,628,419
TRUE
22,701,668
22,701,668
$0.3769
$0.4348
$0.8117
$0.3835
$0.4428
$0.8263
$0.3901
$0.4515
$0.8416
$0.3967
$0.4609
$0.8576
$0.4033
$0.4710
$0.8743
$0.4099
$0.4805
$0.8904
86,812.52
100,148.56
88,613.04
102,318.16
90,424.52
104,667.17
92,247.20
107,191.55
94,081.34
109,882.89
95,927.20
112,474.74
275.00
7%
11.0%
35.00%
2
2.20
35%
212,294.16
1.5%
35%
$0.93
$0.4313
$0.4975
10,310
100%
1,082.70
1,104.35
1,126.44
1,148.97
1,171.95
1,195.39
0%
-
$0.377
$0.435
$$$$0.812
186,961.08
35%
50.00
$0.383
$0.443
$$$$0.826
190,931.20
$0.390
$0.452
$$$$0.842
195,091.69
$0.397
$0.461
$$$$0.858
199,438.75
$0.403
$0.471
$$$$0.874
203,964.23
$0.41
$0.48
$$$$0.890
208,401.94
186,961.08
141,748.5
45,212.5
15,824.4
29,388.2
11.0%
190,931.2
144,962.6
45,968.6
16,089.0
29,879.6
11.0%
195,091.7
148,371.2
46,720.5
16,352.2
30,368.3
11.0%
199,438.7
151,970.6
47,468.2
16,613.9
30,854.3
11.0%
203,964.2
155,752.7
48,211.5
16,874.0
31,337.5
11.0%
208,401.9
159,451.6
48,950.4
17,132.6
31,817.8
11.0%
71,687
29,658
2.42
73,596
30,431
2.42
75,070
31,213
2.41
76,546
32,005
2.39
78,025
32,805
2.38
79,506
33,615
2.37
26,253.74
53,328.92
80,833.28
108,761.22
137,107.12
165,865.41
186,961
190,931
195,092
199,439
203,964
208,402
Year
Year Index
2007
1
2008
2
2009
3
2010
4
2011
5
2012
6
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
0
0
2007
TRUE
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
11.0%
11.0%
0.0%
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
186,961.1
127,914.5
59,046.58
190,931.2
130,620.1
60,311.07
195,091.7
133,509.9
61,581.80
199,438.7
136,579.9
62,858.89
203,964.2
139,821.7
64,142.51
208,401.9
142,969.2
65,432.78
10,956.9
18,701.6
29,658.4
1.99
11,417.2
19,014.3
30,431.5
1.98
11,888.2
19,325.3
31,213.5
1.97
12,370.0
19,634.6
32,004.6
1.96
12,863.0
19,942.0
32,805.0
1.96
13,367.4
20,247.7
33,615.0
1.95
FALSE
FALSE
1.00
1
1.00
1
1.00
1
1.00
1
1.00
1
29,388.16
29,438.2
29,388.16
50.00
29,879.59
29,929.6
29,879.59
50.00
30,368.33
30,418.3
30,368.33
50.00
30,854.32
30,904.3
30,854.32
50.00
31,337.48
31,387.5
31,337.48
50.00
31,817.75
31,867.8
31,817.75
50.00
TRUE
TRUE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
FALSE
TRUE
FALSE
FALSE
FALSE
FALSE
FALSE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
101%
1.00
22,340,481
-
101%
1.00
22,496,865
85,150
101%
1.00
22,568,596
85,150
101%
1.00
22,640,830
85,150
101%
1.00
22,713,570
85,150
101%
1.00
22,786,818
85,150
22,340,481
85,150
22,411,714
85,150
22,483,446
85,150
22,555,680
85,150
22,628,419
85,150
22,701,668
1.01
22,340,481
22,340,481
1.01
22,411,714
22,496,865
1.01
22,483,446
22,654,343
1.01
22,555,680
22,812,923
1.01
22,628,419
22,972,614
1.01
22,701,668
23,133,422
22,340,481
105%
23,457,505
22,496,865
105%
23,621,708
22,654,343
105%
23,787,060
22,812,923
105%
23,953,569
22,972,614
105%
24,121,244
23,133,422
105%
24,290,093
1.02
1.05
1.07
1.10
1.12
1.15
4,269.36
4,367.56
4,468.01
4,570.77
4,675.90
4,783.45
1
1
2007
2%
2007
2.00%
2.00
50.00
45.00
121,479
50%
22,185,185
100%
22,185,185
22,185,185
22,185,185
22,185,185
$4.05
1031
0%
0%
4,269.36
4,367.56
4,468.01
4,570.77
4,675.90
4,783.45
23,457,505
100,148.6
100,148.6
23,621,708
103,169.1
103,169.1
23,787,060
106,280.8
106,280.8
23,953,569
109,486.4
109,486.4
24,121,244
112,788.6
112,788.6
24,290,093
116,190.4
116,190.4
10.67
8.47
10.22
8.11
9.69
7.69
9.19
7.29
8.72
6.92
8.93
7.08
63,862.70
21,287.57
673
178
851
127,725.40
42,575.13
1276
338
1,614
191,588.09
63,862.70
1815
480
2,295
255,450.79
85,150.26
2298
608
2,906
319,313.49
106,437.83
2938
777
3,716
10.67
8.47
-
10.22
8.11
63,862.7
21,287.6
673
178
851
9.69
7.69
127,725.4
42,575.1
1,276
338
1,614
9.19
7.29
191,588.1
63,862.7
1,815
480
2,295
8.72
6.92
255,450.8
85,150.3
2,298
608
2,906
8.93
7.08
319,313.5
106,437.8
2,938
777
3,716
100,149
100,149
102,318
102,318
104,667
104,667
107,192
107,192
109,883
109,883
112,475
112,475
1.02
121,479
-
1.05
122,329
-
1.07
123,186
-
1.10
124,048
-
1.12
124,916
-
1.15
125,791
-
100,148.6
100,148.6
102,318.2
102,318.2
104,667.2
104,667.2
107,191.5
107,191.5
109,882.9
109,882.9
112,474.7
112,474.7
Capital Expenditures
Line Item Capacity Capex $MM
Capital Expenditure (Growth and Other) $MM
22,844
23,016
23,548
24,092
24,649
25,219
22,844
23,016
23,548
24,092
24,649
25,219
1.02
10,859
1.05
11,109
1.07
11,364
1.10
11,625
1.12
11,893
1.15
12,166
547,843.6
570,860.0
594,408.2
618,500.7
643,149.8
668,368.5
3%
3%
3%
3%
3%
3%
525,000.0
18,261.5
22,843.6
529,582.1
529,582.1
19,028.7
23,016.4
533,569.9
533,569.9
19,813.6
23,548.3
537,304.5
537,304.5
20,616.7
24,092.4
540,780.2
540,780.2
21,438.3
24,649.1
543,991.1
543,991.1
22,278.9
25,218.7
546,930.8
2%
2%
2%
2%
2%
2%
525,000.0
10,956.9
22,843.6
536,886.7
536,886.7
11,417.2
23,016.4
548,485.9
548,485.9
11,888.2
23,548.3
560,146.0
560,146.0
12,370.0
24,092.4
571,868.4
571,868.4
12,863.0
24,649.1
583,654.6
583,654.6
13,367.4
25,218.7
595,505.9
2,556.6
2,556.6
2,664.0
5,220.6
2,773.9
7,994.5
2,886.3
10,880.9
3,001.4
13,882.2
3,119.1
17,001.3
594408.2
34,262.2
7,994.5
552,151.5
618500.7
46,632.2
10,880.9
560,987.6
643149.8
59,495.2
13,882.2
569,772.3
668368.5
72,862.6
17,001.3
578,504.6
100%
0
0
-
0%
0%
0%
O&M Expenditures
O&M - yr1
O&M Cost Escalation
Total Gas O&M Expenditures
RATE BASE AND REVENUE REQUIREMENTS
Deferred Taxes - Gas Utility
Basis for Depreciation
Deferred Tax
Tax life (years)
Tax Depreciation Schedule (assumed average straight line, vs MACRS)
Beginning Tax Basis
Tax Depreciation Schedule (assumed average straight line, vs MACRS)
Capex
Ending Tax Basis
Book life (years)
Book Depreciation
Beginning Book Basis
Book Depreciation
CapEx
Ending Book Basis
Tax Rate
Annual Deferred Tax
Accumulated Deferred Income Tax (ADIT) - Gas utility
Rate Base
Rate Base Assets
Depreciation Reserve
Deferred Tax Reserve
Rate Base
$10,614.71
525,000
30
525,000
50
525,000
35.00%
547843.6
10,956.9
2,556.6
534,330.1
570860.0
22,374.1
5,220.6
543,265.3
50%
50%
267,165.1
267,165.1
271,632.6
271,632.6
276,075.7
276,075.7
280,493.8
280,493.8
284,886.2
284,886.2
289,252.3
289,252.3
22,843.6
10,956.9
12,161.7
23,016.4
11,417.2
23,760.9
23,548.3
11,888.2
35,421.0
24,092.4
12,370.0
47,143.4
24,649.1
12,863.0
58,929.6
25,218.7
13,367.4
70,780.9
267,165.1
18,701.6
271,632.6
19,014.3
276,075.7
19,325.3
280,493.8
19,634.6
284,886.2
19,942.0
289,252.3
20,247.7
267,165.1
29,388.2
271,632.6
29,879.6
276,075.7
30,368.3
280,493.8
30,854.3
284,886.2
31,337.5
289,252.3
31,817.8
15,824.4
16,089.0
16,352.2
16,613.9
16,874.0
17,132.6
29,658.4
35,590.1
30,431.5
36,517.8
31,213.5
37,456.2
32,004.6
38,405.5
32,805.0
39,366.0
33,615.0
40,338.0
19,163.9
19,663.4
20,168.7
20,679.9
21,197.1
21,720.5
186,961.1
190,931.2
195,091.7
199,438.7
203,964.2
208,401.9
3,184.4
29,388.2
2,804.4
29,879.6
2,864.0
30,368.3
2,926.4
30,854.3
2,991.6
31,337.5
3,059.5
31,817.8
29,388.2
10,956.9
18,701.6
10,858.8
1,082.7
100,148.6
15,824.4
186,961.1
29,879.6
11,417.2
19,014.3
11,108.6
1,104.4
102,318.2
16,089.0
190,931.2
30,368.3
11,888.2
19,325.3
11,364.1
1,126.4
104,667.2
16,352.2
195,091.7
30,854.3
12,370.0
19,634.6
11,625.5
1,149.0
107,191.5
16,613.9
199,438.7
31,337.5
12,863.0
19,942.0
11,892.9
1,171.9
109,882.9
16,874.0
203,964.2
31,817.8
13,367.4
20,247.7
12,166.4
1,195.4
112,474.7
17,132.6
208,401.9
186,961.1
10,956.9
130,791.7
45,212.5
15,824.4
29,388.16
11.0%
190,931.2
11,417.2
133,545.4
45,968.6
16,089.0
29,879.59
11.0%
195,091.7
11,888.2
136,483.0
46,720.5
16,352.2
30,368.33
11.0%
199,438.7
12,370.0
139,600.6
47,468.2
16,613.9
30,854.32
11.0%
203,964.2
12,863.0
142,889.7
48,211.5
16,874.0
31,337.48
11.0%
208,401.9
13,367.4
146,084.2
48,950.4
17,132.6
31,817.75
11.0%
$186,961.08
$86,812.52
$100,148.56
$190,931.20
$88,613.04
$102,318.16
$195,091.69
$90,424.52
$104,667.17
$199,438.75
$92,247.20
$107,191.55
$203,964.23
$94,081.34
$109,882.89
$208,401.94
$95,927.20
$112,474.74
TRUE
22,340,481
22,340,481
TRUE
22,411,714
22,411,714
TRUE
22,483,446
22,483,446
TRUE
22,555,680
22,555,680
TRUE
22,628,419
22,628,419
TRUE
22,701,668
22,701,668
$0.3769
$0.4348
$0.8117
$0.3835
$0.4428
$0.8263
$0.3901
$0.4515
$0.8416
$0.3967
$0.4609
$0.8576
$0.4033
$0.4710
$0.8743
$0.4099
$0.4805
$0.8904
86,812.52
100,148.56
88,613.04
102,318.16
90,424.52
104,667.17
92,247.20
107,191.55
94,081.34
109,882.89
95,927.20
112,474.74
275.00
7%
11.0%
35.00%
2
2.20
35%
212,294.16
1.5%
35%
$0.93
$0.4313
$0.4975
10,310
FALSE
1,082.70
1,104.35
1,126.44
1,148.97
1,171.95
1,195.39
0.00%
-
$0.377
$0.435
$$$$0.812
186,961.08
35%
50.00
$0.383
$0.443
$$$$0.826
190,931.20
$0.390
$0.452
$$$$0.842
195,091.69
$0.397
$0.461
$$$$0.858
199,438.75
$0.403
$0.471
$$$$0.874
203,964.23
$0.41
$0.48
$$$$0.890
208,401.94
186,961.08
141,748.5
45,212.5
15,824.4
29,388.2
11.0%
190,931.2
144,962.6
45,968.6
16,089.0
29,879.6
11.0%
195,091.7
148,371.2
46,720.5
16,352.2
30,368.3
11.0%
199,438.7
151,970.6
47,468.2
16,613.9
30,854.3
11.0%
203,964.2
155,752.7
48,211.5
16,874.0
31,337.5
11.0%
208,401.9
159,451.6
48,950.4
17,132.6
31,817.8
11.0%
71,687
29,658
2.42
73,596
30,431
2.42
75,070
31,213
2.41
76,546
32,005
2.39
78,025
32,805
2.38
79,506
33,615
2.37
26,253.74
53,328.92
80,833.28
108,761.22
137,107.12
165,865.41
186,961
190,931
195,092
199,439
203,964
208,402